PHMA seeks relief for export sector

Amid global economic slowdown due to corona pandemic, Chaudhry Salamat Ali, Central Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMA) mentioned that the financial losses to textile export industries are multiplying every coming day and exporters are facing highest liquidity crises of the history.
Small & Medium Textile Export industries have approached from all over Pakistan, stating that they have run out of cash to pay wages to workers, make payment of utilities and operate industries.
The gravity of situation demands and Textile Export Industry appeals Prime Minister of Pakistan Imran Khan to announce and provide relief to the Export Oriented Industry for the sake of their survival with immediate directives to Ministry of Energy for onwards directives to all DISCOs, SNGPL & SSGCL for deferment of payments of utilities (Power & Gas) with immediate effect till normalization of industrial and export activity." Chaudhry Salamat Ali, Central Chairman, (PHMA) appealed to the Prime Minister Imran Khan.
PHMA Central Chairman also paid tribute to PM for efforts to provide relief to the export sector in wake of Corona pandemic.
The Textile exports sector contribute to more than 50 percent to the national exports and this sector is also labour-intense which provides highest employment to human workforce and the highest foreign exchange earner. Textile exporters were already facing host of challenges and financial pressure amid stuck up precious liquidity in shape of Sales Tax Refunds, Custom Rebates, DLTL etc. while COVID19 abruptly had put a deadly blow on the entire export industry which has been crippled and came to standstill.
Reportedly, many textile export orders have been cancelled amid global lockdown and in various cases foreign buyers have also refused to collect shipments at the export destinations.
Hence, in view of severe liquidity crises, it is imperative that Government must defer the payments of utilities till the situation normalizes, he concluded.