SIALKOT, Jan 8: The surgical instruments manufacturing industry is on a “steep decline” because of several unavoidable yet hostile factors, the annual general meeting of the Surgical Instruments Manufacturers Association (SIMA) was informed here on Tuesday.

SIMA chairman Sheraz Safdar and outgoing chairman Aamir Riaz Bhinder were among those who addressed the largely-attended meeting.

Safdar said the situation had become alarming and it was high time for them to wake up for the survival of the industry. “There is no doubt that surgical industry’s titanic is sinking and it will sink within three years if immediate remedial measure are not taken by the industry itself and the officials concerned.”

Safdar said that skilled labour force could not be injected into the industry for several years because of which it could not flourish while internal price war among local manufacturers, exporters and vendors was also proving fatal.

Bhinder said that improper patronage by the government, decades-old methods of marketing, lack of promotion of own branding, internal price war, non-diversification of traditional to non-traditional surgical export items and child labour issue were affecting the industry.

He said that the industry was suffering $800 million financial loss due to internal price war, as the local manufacturers were selling surgical instruments worth $1 billion in $200 million only. He demanded forging of unity and curbing the menace of internal price war to help the industry revive.

Bhinder also stressed immediate revamping of the industry besides adopting advanced marketing techniques and exploring new international markets through the diversification of traditional to non-traditional export items.

He said that the surgical industry had a great potential of enhancing its exports to United States, Germany, France and other European, African and Middle Eastern countries from existing $200 million to $500 million if the issues raised by him were taken up seriously.

He said that despite repeated appeals made by the local exporters, government institutions, including the Trade Development Authority of Pakistan (TDAP), had done nothing practically to revitalise the industry.

Bhinder said that surgical industry was also foreseeing a raw material shortage crisis particularly after a large-scale export of surgical forgings to China and India from Daska, Sambrial and Sialkot areas.

He recommended at least a five-year trade and export policy that could rescue the fragile industry besides announcing a special package of incentives for surgical industry’s direly needed revamping.

He said the government had announced a grant of Rs173 million for surgical industry’s revamp, but that plan too had been shelved.

INCOME TAX: Regional Tax Office Director General Sajjad Ali on Tuesday distributed as many as 100 pending income tax return cheques among sports goods and leather goods exporters during a special ceremony at the Sialkot Chamber of Commerce and Industry building.