Falling exports worry Aptma

Published March 18, 2015
Aptma Chairman says high cost of doing business and overvalued currency were hampering textile exports by and large. -Reuters/File
Aptma Chairman says high cost of doing business and overvalued currency were hampering textile exports by and large. -Reuters/File

LAHORE: All Pakistan Textile Mills Association (Aptma) has expressed its concern over 30 per cent decline in basic textiles particularly fabric exports in quantitative terms this fiscal year.

In a press statement, Aptma Chairman S.M. Tanveer said the high cost of doing business and overvalued currency were hampering textile exports by and large.

Over 21pc increase in rupee’s value against the euro in last six months hit the exports hard as 35pc textile exports were destined to the European Union.

The erosion of competitiveness had nullified the benefits of GSP+, the statement said. The Aptma chairman urged the economic managers to take care of the situation and ensure remedial measures at the earliest.

Published in Dawn March 18th , 2015

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