Textile exporters for setting up of 'Low Productivity Support Fund'

Textile exporters have urged the government to set up 'Low Productivity Support Fund' to support domestic industry, which is badly affected by energy crisis. They have showed disappointment over the announcement of what they said unrealistic trade policy by the government.
Leading textile exporter and patron-in-chief of Pakistan Readymade Garments Manufacturers and Exporters Association (PREGMEA) Ijaz Khokhar while criticising the recently announced trade policy said that export target of $95 billion in next three years was not viable in the current economic circumstances, while the entire industry, particularly textile industry was facing a ever worst energy crisis.
"It will be a difficult task to achieve this milestone as Pakistan has already missed targets of previous trade polices," he added. "We are even not capable to reach $25 billion export level due to energy crisis and poor industrial infrastructure and the government is talking about exports of $95 billion in next three year," he said and added that despite all efforts the country's exports stood at $23.64 billion, down by 4 percent at the end of last fiscal year. In the current scenario, when domestic industry is working without gas, electricity and support from government, the target seems a joke. "Government should struggle to maintain exports at current level, instead of setting new unrealistic targets for next three years. If government successfully maintains the exports at the level of previous fiscal year, it will be a greater achievement," Khokhar opined.
Demanding various steps to enhance exports, he said that Pakistan's trade and industry was seeking short term and long term measures for its survival and long term growth. "Pakistan's industrial activities are badly affected by the ongoing energy crisis and need preventive steps to come out from the prevailing crisis," Khokhar said.
Presently, Pakistani exporters are facing tuff competition in the international market as India, China and Bangladesh have launched an aggressive campaign against their Pakistani counterparts and Pakistani exporters cannot make delivery on time due to energy crisis and poor law and order situation, he mentioned.
"As a result of this negative campaign, our European buyers are seeking guarantees for timely delivery of goods," he added. In this situation, some preventive measures are required to handle the situation, otherwise the country will lose its several foreign markets due to this negative propaganda by the competitors. "In the prevailing situation, when the industry is facing a difficult time, there is a need to establish a 'Low Productivity Support Fund' for domestic industry to enable it to compete in the world market. In absence of government support, this is not possible for the domestic industry to compete in the world market, he added.