LAHORE: All-Pakistan Textile Mills Association Chairman S.M. Tanveer has said that the textile industry of Pakistan has lost its viability against regional competitors and it is no more competitive in the international market.
“Our textile and clothing exports are declining and are stagnant since February last. Thus textile mills are becoming sick units and are closing down one after the other,” the Aptma chief said.
He warned that the situation may lead to serious repercussions on the farm sector, the entire textile value chain and eventually the workforce.
He urged the government to restore the competitiveness of the industry by ensuring realistic rupee value, uninterrupted supply of gas and electricity at regionally affordable rate, immediate notification of TUFS scheme, liquidation of all pending refunds, removal of all innovative taxes and immediate announcement of zero rate regime for five export-oriented sectors.
Published in Dawn, April 8th, 2015