Textile policy delay perturbs industry, exporters

Published January 29, 2015
A worker examines fabric at a textile factory - AP/File
A worker examines fabric at a textile factory - AP/File

KARACHI: Expressing concern over delay in the approval of textile policy 2014-19, industry leaders have stated that it is not only depriving the industry, but also causing setback to exporters.

The textile industry raised the issue on Wednesday and demanded its early approval. In a statement, Tariq Saud, chairman, All-Pakistan Textile Mills Association (Sindh-Balochistan region) stated that inordinate delay in the approval of new textile policy is deepening uncertainty in business circles.

He further stated that the government had announced several incentives in the budget 2014-15, including settlement of outstanding refund claims, rationalisation of refund regime, establishment of Exim Bank, reduction in mark-up rate for export refinance, duty-free import of textile machinery, but the delay in the approval of new textile policy had become a hurdle.

Tariq Saud recalled that the previous government had allocated Rs180bn in Textile Policy 2009-14, but disbursed only Rs28bn or 15pc of the total allocation.

Meanwhile, as many as 12 value-added textile sector leaders in a press conference held at PHMA House on Wednesday expressed concern over the issue.

Published in Dawn, January 29th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

The way forward
Updated 12 May, 2025

The way forward

An out-of-the-box solution acceptable to Pakistan, India and the Kashmiris is the only hope for long-term peace in South Asia.
AI opportunity
12 May, 2025

AI opportunity

TIME is running out. According to the latest Human Development Report, published by the UNDP this past Tuesday,...
Ace mountaineer
12 May, 2025

Ace mountaineer

NINE summits, five to go. Sajid Ali Sadpara’s quest to fulfil his late father’s dream and elevate Pakistan’s...
Hostilities cease, at last
Updated 11 May, 2025

Hostilities cease, at last

It is Islamabad and New Delhi that will have to do the heavy lifting thesmselves to secure peace.
Second IMF tranche
11 May, 2025

Second IMF tranche

THE IMF board’s approval of the second tranche of its ongoing $7bn funding arrangement and a new climate ...
War and lies
Updated 10 May, 2025

War and lies

Media on this side of the border is also not above blame.