The Federal Secretary Textile Division Syed Iftikhar Hussain Babar has said that the Government is forging export oriented policies to ensure surge in exports. Government have strong believes that the economic revolution can only be possible through trade promotion and all possible support to export sector is being extended to achieve optimum growth.
Addressing the members of Pakistan Textile Exporters Association here on Wednesday, he said that Government is committed to imparting all possible facilities to the textile sector as it is playing a major role in bringing economic stability and no country could achieve economic targets without the due role of exporters. Energy tariffs for export industries are being subsidized to secure their competitive edge in international market. Textile Division is working to reduce the regulatory duties on inputs to cut down the production cost of export goods; moreover efforts are being done to liquidate the pending refunds of exporters. He was of the view that all resources are being mobilized to convert Pakistan according to the Premier's vision of economically stable and strong Pakistan. Considering textile industry as the backbone of economy, he said that remedial measures to overcome the challenges are being taken to uplift this sector.
Responding to a question, he said that Textile Division is making efforts for import of fine quality cotton seed to produce more quantity of fine cotton. He assured to safeguard the interests of the export oriented textile industry as Pakistan could not make sound progress without turning around its sagging economy.
Earlier, Chairman Pakistan Textile Exporters Association Khurram Mukhtar thanked the Government on fulfilling its commitment with textile industry by subsidizing energy price for export oriented sectors. Appreciating the initiatives, he assured textile industry's commitment to work for a prosperous Pakistan through sizeable growth in exports.
Pinning high hopes, he said that Government will adopt business friendly policies and bring economic reforms to boost the trade and industry. Highlighting the major impediments in textile export growth, he said that huge amounts of textile exporters are stuck up in refund regime. Payment of outstanding refunds will enhance the confidence level of exporters. In order to promote exports, he underlines the need of country's image building in international world. He suggested launching a comprehensive media campaign at international level to present the soft image of Pakistan through export development fund. Terming high cost of production as a major issue for textile export oriented industry; he said that custom duty on raw materials especially on cotton import has eroded the competitive edge of textile exports in international market.
He requested for immediate withdrawal of custom duty on cotton import and reconsideration of custom and regulatory duties on other raw materials. He further requested for increase in limit of commercial banks for Export Refinance and Long Term Financing.
There is a need to work out a methodology to explore new markets and increase export volume. Pragmatic policies in consultation with stakeholders need to be formulated to reduce the cost of business to create a level playing field, he suggested.
He assured that if the challenges are addressed, textile industry has the capacity to add further 5 billion dollars in textile exports in two years and generate 500,000 new jobs.
Later, the Secretary Textile Division paid a detail visit to Pakistan Textile Testing Foundation Lab. He inaugurated the newly expanded block of the lab established with financial assistance from the EDF fund. PTTF Lab management briefly enlightened the testing facilities and other services provided by the lab to textile manufacturers.
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