Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain has said that APTMA is representing spinning sector and some composite units, and the value-added sector is contributing 45 percent exports and therefore creation of 18 million jobs should also be included in the negotiations for textile package. He said that 25 percent duty on India yarn amounts to banning its exports which will destroy the value-added industry, rather export of yarn and raw cotton should be controlled to help value-added sector get input on reasonable price.
"Spinners add 56 percent value to raw material while value-added sector adds 850 percent value to it. Yarn is exported at the rate of 60 cents per pound while garments are exported at six dollars per pound," he added. Mian Zahid Hussain said spinning sector needed over a million rupees' investment to create one job while value-added sector created almost a dozen jobs in the same amount.
He said textile sector was plagued with non-professional management and addicted to subsidies, rebate and linking personal interests to the national interests. He also lauded the government for refusing to devalue the currency to boost exports of textiles, saying the government preferred interests of masses over interests of textile sector as the textile millers had demanded devaluation of currency, 25 percent duty on imports of yarn from India, reduction in gas tariff, payment of refunds, three percent export rebate and abolishing GIDC. On the other hand, government has offered electricity at Rs 9 per unit if the textile sector shuts primitive captive power plants wasting precious gas.
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