AGL 39.50 Decreased By ▼ -0.08 (-0.2%)
AIRLINK 129.86 Decreased By ▼ -1.36 (-1.04%)
BOP 6.76 Decreased By ▼ -0.05 (-0.73%)
CNERGY 4.63 Decreased By ▼ -0.08 (-1.7%)
DCL 8.50 Increased By ▲ 0.06 (0.71%)
DFML 41.10 Decreased By ▼ -0.37 (-0.89%)
DGKC 81.50 Decreased By ▼ -0.59 (-0.72%)
FCCL 32.70 Decreased By ▼ -0.40 (-1.21%)
FFBL 72.11 Decreased By ▼ -0.76 (-1.04%)
FFL 12.26 No Change ▼ 0.00 (0%)
HUBC 110.85 Increased By ▲ 0.11 (0.1%)
HUMNL 14.01 Decreased By ▼ -0.50 (-3.45%)
KEL 5.15 Decreased By ▼ -0.04 (-0.77%)
KOSM 7.60 Decreased By ▼ -0.01 (-0.13%)
MLCF 38.80 Decreased By ▼ -0.10 (-0.26%)
NBP 63.25 Decreased By ▼ -0.76 (-1.19%)
OGDC 190.39 Decreased By ▼ -2.43 (-1.26%)
PAEL 25.50 Decreased By ▼ -0.18 (-0.7%)
PIBTL 7.42 Increased By ▲ 0.08 (1.09%)
PPL 151.12 Decreased By ▼ -2.95 (-1.91%)
PRL 25.58 Decreased By ▼ -0.25 (-0.97%)
PTC 17.49 Decreased By ▼ -0.32 (-1.8%)
SEARL 80.98 Decreased By ▼ -1.32 (-1.6%)
TELE 7.68 Decreased By ▼ -0.08 (-1.03%)
TOMCL 33.05 Decreased By ▼ -0.41 (-1.23%)
TPLP 8.41 Decreased By ▼ -0.08 (-0.94%)
TREET 17.06 Increased By ▲ 0.44 (2.65%)
TRG 56.90 Decreased By ▼ -0.50 (-0.87%)
UNITY 27.90 Increased By ▲ 0.39 (1.42%)
WTL 1.36 Decreased By ▼ -0.01 (-0.73%)
BR100 10,449 Decreased By -55 (-0.52%)
BR30 30,969 Decreased By -256.9 (-0.82%)
KSE100 97,582 Decreased By -497.4 (-0.51%)
KSE30 30,381 Decreased By -177.5 (-0.58%)

Site Association of Industry (SAI) Chairman Ameen Bandukda has congratulated M. Zubair Motiwala for making a comprehensive and an effective presentation on reducing the cost of doing business in textile and clothing sector, which was given to Prime Minister Shaukat Aziz on May 31 in Islamabad.
He said that massive investment has gone into the textile sector, which is the mainstay of Pakistan's economy. It is now imperative that proper measures by the government should be adopted to ensure the long-term survival and viability of this sector, he added.
The SAI chief has commended the prime minister for immediately taking note of the report and accepting to provide relief on bank financing for capital investments and substantial reduction in the export re-finance rates, announced during the presentation. He, however, stressed that these measures are not sufficient to boost the value-added textile, which is ailing at the moment and finding it quite difficult to compete in the global market.
Bandukda said that one of the key suggestions given in the report was to "declare textile industry as a 'priority' sector for application of a separate lower gas tariff in line with rates prevailing in Bangladesh."
Reducing gas tariff is of prime-most importance for the survival of the textile processing industry, and is the major factor contributing to increasing the cost of production continuously, he added.
The SAI chief also highlighted another suggestion given in the report of providing 5 percent Travel Relief Support (TRS) on processed fabric, garments, knitted and home textiles and made-ups.
At present, Pakistan has to compete in the global market for which frequent foreign tours are needed to get access to global market, he said, adding most of the developed countries have issued negative travel advisory for Pakistan.
Bandukda, therefore, has urged the government to accept the suggestion of introducing 5 percent of FOB value as TRS to manufacturers-cum-exporters of value-added textiles, including processed fabrics, knitting, made-ups, home textiles and garments.-PR

Copyright Business Recorder, 2006

Comments

Comments are closed.