Acting Chairman, Faisalabad Dry Port Trust (FDPT) and former chairman, All-Pakistan Textile Processing Mills Association (APTPMA) and Ex-President, Faisalabad Chamber of Commerce & Industry (FCCI), Muhammad Saeed Sheikh, has demanded of textile ministry to issue SRO forthwith about exemption of textile sector from load-shedding, as it was announced in new textile policy, so that the target of $25 billion set for textile exports could be achieved.
Talking to newsmen here on Thursday, Muhammad Saeed Sheikh said that the Fesco has again clamped four hours load-shedding on textile and other industrial sectors, which is resulting in low industrial production and thus we cannot meet the export of textiles to our foreign buyers, who have shifted their orders to our neighbouring countries, such as China, India and Sri Lanka.
He added that due to severe load-shedding of electricity and gas our exports have declined sharply by 40 to 50 percent. He said that in our close contemporaries, China, India and Sri Lanka, where export-oriented-industries are facilitated by free supply of electricity, as Indian government has recently announced 8 percent rebate on export of textiles.
He added that Pakistan is already facing problems in increasing exports and at the same time the import of Indian polyester through Afghan Transit Trade (ATT) would further jolt our export-oriented-textile Industry and thus India will capture polyester market in Pakistan.
He said this was indeed a very sensitive issue and government should take immediate corrective steps to save local polyester and textile industry by controlling borders. Muhammad Saeed Sheikh continued that there was a shortfall of 4200 MW electricity in Pakistan which led to severe load-shedding and the government after realising this grave situation has now approved to install 2250 MW fast track Rental Power Plants (RRPs) to partially overcome the power shortage in the country.
While lauding the RPPs installation, he demanded that these RPPs should be installed expeditiously to overcome electricity shortage and their per unit charges should not be increased.
Muhammad Saeed Sheikh appreciated the new Textile Policy and allocation of Rs 87 billion for textile and clothing sector, Rs 44 billion for value-added textile exports, allocation of Rs 5.4 billion for early refund of R&D, one percent extra R&D for exporters, who achieve 15 percent increase in their exports. Moreover, availability of export-refinance at the rate of 5 percent, relief on existing long-term industrial loans, exemption of textile industry from load-shedding and priority in gas allocation to processing and other textile units and zero-rating of exports.
He also hailed the decision of Federal Board of Revenue (FBR) to allow e-filing of the Income Tax Returns of the Assesses for 2009. This decision, he added, would surely facilitate the individuals and association of persons to file their income tax returns by e-filing and their returns will be entertained by the concerned tax authorities.
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