FAISALABAD: Value added textile sector has demanded immediate ban on cotton yarn export and total elimination of Regulatory Duty (RD) on import of raw material, said Mian Kashif Zia Zonal Chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMA).
Addressing a joint Press Conference of the value-added textile sector in PHMA, he warned that the textile industry will be forced to close down if the Government failed to resolve our issues on a top priority basis. "It will also render millions of workers jobless", he added.
Atif Munir Sheikh, President Faisalabad Chamber of Commerce & Industry (FCCI) said that despite 80percent extra production of cotton, we are facing a cotton shortage of 35-45percent and to fulfil this gap we have to import cotton. He said that we earn three dollars from the export of one kilogram of cotton yarn but after its value addition we could earn 10-13 dollars from the same quantity of cotton yarn. He demanded that the Government must clamp a ban on export of cotton yarn and trim Regulatory Duty on its import to zero.
He said that with the unprecedented increase in the value of the dollar, the export sector is badly hit. He negated this impression that appreciation of the dollar will give benefit to the exporters. He said that we have to depend on 70percent imports for our exports as we are playing at 30-70 percent.
He said that the Government is under extreme pressure from the International Monetary Fund (IMF) but it has to take decisions according to the ground realities and in the best interest of the nation. He said that if subsidies on electricity and gas were withdrawn it would inflict a death blow to the textile sector in addition to affecting millions of workers.
He said that the value added textile sector is playing a key role in creating new job opportunities to materialize the vision of Prime Minister Imran Khan to provide 10 million jobs. He said that we could not enhance exports if the Government withdrew the subsidy on gas in the months of November and December. He said that we are indebted to the Government who had cleared 275 billion refunds of the last eleven years but we are bound to pressurize the Government to ensure availability of raw material at reasonable rates.
Shahzad Azam Khan, Central Chairman PHMA, said that the real estate sector is under the focus of the Government despite the fact that black money has been parked in it. He said that the real economic strength of Pakistan is its well-developed textile sector and the Government must ban yarn export to provide cotton yarn to the domestic textile sector.
Waheed Khaliq Ramey, Chairman Power Looms Owners Association said that we will resort to protests and rallies if the Government fails to pay any heed to our genuine demands.
Arif Ihsan Malik Central Chairman All Pakistan Bedsheets & Upholstery Manufactures Association (APBUMA), Chaudhary Muhammad Nawaz of All Pakistan Cotton Power Loom Association, Shakeel Ansari of Sizing Association, Shafiq Rafi of All Pakistan Textile Processing Mills Association and Syed Zia Alumdar Hussain also addressed the press conference and thanked media for their cooperation.
Copyright Business Recorder, 2021
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