Value-added textile industry has urged Prime Minister Nawaz Sharif for honouring pledge of Rs 170 billion textile package for exporters without further delay to rescue the major exporting sector of the country. Ijaz Khokhar, Chairman Pakistan Readymade Garments Manufacturers and Exporters (PRGMEA) said on Friday that the value-added textile industry would welcome the PM decision of textile package only when it is implemented in real shape.
"We hope Prime Minister will fulfill its commitment to restore the confidence of the exporters. If concrete measurers not taken timely, it would be useless after the collapse of industry", he added. He also showed disappointment on media reports that Federal Board of Revenue (FBR) and Ministry of Finance (MoF) are opposing Prime Minister's Rs 170 billion packages for exports.
He appealed Prime Minister to accept responsibility for controlling the freefall of textile exports and immediately release of textile package. Few months back, the PM assured for Rs 170 billion relief package for the textile exporters but still not implemented due to unknown reasons, while other side every passing day is crucial for the industry at a time when export has been constantly declining, chairman PRGMEA said.
He said that the PM should take the ownership of exports and implement the package from the day of announcement then it would be useful and helpful. He was of the view that the exporters have to give entire year's base price to the buyers in January, adding in case the package is delayed buyer will slip.
"Incentives will not be affective until Prime Minister takes ownership of exports as policy implementation is not seen anywhere," he added. Government should adopt pro-export policies and ensure their effective implementation so that country could continue its journey to development and prosperity, he demanded. He said that exports of country are major source of providing employment and earning foreign exchange for the country but they are under heavy internal and external pressures. Therefore, they should be given priorities in solution of their problems so that economic prosperity can be achieved.
Khokhar further stated that Prime Minister should appoint a full time Minister for Textile Industry as early as possible so that he could play proactive role and honour his pledge to clear pending tax refunds of exporters, without any delay.
Similarly, PRGMEA Vice Chairman Jawwad Chaudary has said that it was unfortunate that none of the relevant ministries bothered to approach the industry for taking any preventive measures to stop freefall of export despite GSP Plus status by the EU.
He requested the PM to intervene personally and take daring steps to save all export oriented industries. Jawwad also expressed his concerns that most of the promises of the government for support of export oriented sectors remained unfulfilled, therefore notification of the package should be issued immediately. He further said that apart from sales tax refunds, billions of rupees under the textile policy initiatives like DLTL are still held up for which funds should be released immediately.
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