LAHORE, Feb 28: The chairman, Export Promotion Bureau, Minister of State, Tariq Ikram, has said that presently only 10 per cent top textile exporters were prepared for the World Trade Organization regime.

Talking to reporters after inaugurating a one-day EPB Seminar on WTO and State of Preparedness of Textile Sector in Pakistan here on Saturday morning the minister said that no reduction was required in customs duty for the WTO as the government had already reduced it to a level where only rationalisation would be required.

He said that textile exports had increased by $2 billion last year and another 37 per cent increase was expected this year. He said that 19 per cent of the textile exports last year comprised non-traditional items. An investment of $2 billion had been made in textile sector in the country this year, according to the State Bank record.

He said that better unit price had minimised the impact of increase in local cotton and yarn prices. The exporters were demanding 20 to 25 per cent higher prices and were getting 10 to 10 per cent higher rates.

He said that the garment sector required a 40 to 60 per cent turnaround with shift from the men's garments to those of women and children. A 20 to 22 per cent increase in investment level in the garment sector was expected this year.

He said that the EPB had launched a scheme for making the services of world renowned consultants available to the textile industry for giving advice about balancing, modernization, branding and marketing to prepare for facing the globalization challenge. The EPB would pay 50 per cent consultancy costs of the services of consultants selected by the industry from its panel and the State Bank would provide the required finances for repayment in seven years with a fixed seven per cent mark-up.

He said that the EPB was helping the exporters to get back the refund of Sales Tax. As many as 15 to 20 exporters had got ST refunds from Rs350 million lying with the CBR.

He advised the exporters to maintain accurate accounts and documents to challenge imposition of anti-dumping duty on their products by any foreign government. He pointed out that the NWFP match industry had failed to challenge the imposition of 36 per cent anti-dumping duty by the Egyptian government for failure to provide the required financial data.