February 24, 2008	Sunday	Safar 16, 1429

KARACHI, Feb 23: State Bank Governor Dr Shamshad Akhtar has assured the knitwear and sweater exporters to resolve all issues confronting the value-added textile sector.

A delegation of Pakistan Knitwear and Sweater Exporters Association (Paksea) led by its chairman Rafiq Habib Godil in a recent meeting with the governor discussed issues related to the time-barred claims of Research and Development (R&D) support and the illegal release of goods by shipping lines and their agents without the endorsement of the consignee.

It was decided that the issue of time-barred R&D claims may first be resolved with the ministry of commerce by the respective trade body and should then be forwarded to the State Bank.

It was also decided that the issue of illegal release of goods to the buyers by shipping lines or their agents without the endorsement of the consignee would be taken up with the ministry of ports.

The governor assured the delegation that the cases of non-acceptance of LCs by banks on LTF (long term funding) would be resolved as it was causing hardship to the exporters.

Mr. Godil claimed that if the knitwear and sweater industry was encouraged, the 3.5 per cent decline in textile exports in the first six months of current fiscal year would be reversed.