Pakistan Textile Industry Asks The Government To Rescue The Textile Industry

Pakistan

The PTEA asked the government to rescue the textile industry and export from the current crisis, remove obstacles, provide the necessary incentives to expand the economy, generate new jobs and generate foreign exchange earnings for the country, said Aas Garr Ali, vice president of the association, Mohamed Asif, in a joint statement on Tuesday.

They pointed out the bottlenecks that impede the export of textiles. They said that the most difficult problem was the rising production costs. The rise in costs was due to the rising price of raw materials and imported goods, such as natural gas, electricity and petroleum products, which made our products lose competitiveness in the international market.

With the abnormal rise of raw material prices, the production cost of value-added textile products has been greatly improved. Under fierce competition in the international market, the export of finished products is facing severe competition. Exporters find it difficult to continue their production, making it difficult to achieve their promises to foreign buyers.

In order to solve this emerging challenge, appropriate measures should be taken to meet their requirements.

They said the sharp rise in sales rebates, tariff rebates and land tax rebates for exporters, which led to tight liquidity for exporters.

Due to the widespread economic, financial and industrial crises and the continuing legal and order situation, this has seriously affected industrial and trade practices, production levels and employment of workers, which has already put pressure on Pakistan's exports.

Pakistan's export sector is a major foreign exchange revenue department, which brings us $about 20000000000 in revenue every year.

Pakistan's textile exports are collapsing, and industrial and business sectors are being squeezed out of funds.

They believe that natural gas is very important to industrial management.

But because no natural gas can be obtained, no one can run the industry.

They say the textile sector is facing a downturn and depression since last year, which is caused by the energy crisis.

Ali and Asif warned that the rise in prices and the drop in electricity consumption in the industrial sector hurt the textile industry.

Governments around the world and our neighbouring countries help their industries to be executed by providing cheap input products, which not only ensures that their industries can operate continuously, but also enables their industries to compete successfully in the international market.

However, in Pakistan, the industrial sector not only bears high energy costs, but also disrupts supply and leads to loss of productivity.

Ali and Asif said that the energy crisis should be resolved immediately.

The challenges of the energy crisis, high interest rates, high electricity tariffs, frequent natural gas stop and the legal order should be controlled to increase the potential of the industrial sector.

The leaders of the Pakistan Textile Exporters Association urged the government to have a high awareness of this serious problem and allocate funds to customs rebates, sales tax rebates and local tax rebates, and immediately solve the natural gas crisis that has sprouted gradually, and ensure that textile exporters maintain their difficult export market share.