Without solving the energy crisis, industrial and economic stability is impossible. Uninterrupted gas supply to industry and emergent release of outstanding refund amounts will be treated on top priority to enable the textile exporters to retain their hard-won export markets at this time of severe recession and tough competition in international markets.
This was stated by Asghar Ali, newly-elected Chairman of Pakistan Textile Exporters Association, while addressing Annual General Meeting. Addressing the meeting, he said that textile is the main stay of national economy but due to multiple factors, it is passing through a deep crisis due to prevailing economic financial, industrial crisis in the country as well as energy crisis, high bank mark-up rate, shortage of raw material and persistently worsening law-and-order situation which are badly affecting the industrial and trade activities, the productivity output and the situation is going from bad to worse. He said that textile exports stood at USD 12.35 billion at the end of FY 2011-12 as against the exports of USD 13.78 billion in the same period of last fiscal year, projecting a decrease of 10.38 percent.
Therefore, Government should facilitate exports by announcing suitable funds for export development initiatives, he maintained. Rising cost of production and shortage of energy are the core issues for textile exporters shedding negative impact on exports of the country, he said. Non-availability of duty-free market access to EU and USA is another hurdle on the path of growth for textile exports. He emphasised the unity of value-added textile sector to enforce the Government to focus on consolidation and strengthening of economy and uplifting the industrial productivity in the country.
He said that billions of rupees of textile exporters' refunds of Sales Tax, custom rebate and DLTL refund regime are stuck up with various Government departments creating liquidity crunch and hampering the export growth and turn over. Special efforts will be done to overcome these problems, he assured. He appreciated the successful efforts of outgoing chairman in resolving the energy crisis. He assured that PTEA will continue this momentum for provision of uninterrupted gas supply to industry.
Muhammad Asif, newly-elected Vice Chairman PTEA, is concerned about the reduction in economic activities due to shortage of energy. He said that textile exporters are seriously doing their efforts to increase textile exports but without Government help; it is unable to achieve the export targets set for this year. Private sector alone could not absorb the shocks and Government must come forward with proactive and result-oriented strategy to save this forex earning sector from total collapse.
Earlier, speaking on the occasion, the outgoing Chairman Rana Arif Touseef presented a detailed report of his performance during the year. He said that personalised attention to difficulties and problems confronting the exporter members at individual and local levels has been the hall mark of our tenure.

Copyright Business Recorder, 2012

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