The textile sector has started receiving export orders from the foreign buyers following the February 18 polls that would restore political stability and gear up economic activity in the country, sources told Business Recorder here on Saturday.
Sources said the export orders had declined by 25 percent from November 2007 to January 2008 as compared to the corresponding period last fiscal year as the deteriorating law and order condition and political uncertainty forced the foreign buyers not to place export orders.
"Foreign customers were also hesitant to place orders because of the uncertainty about the on time delivery", sources told Business Recorder. They said the continuous load shedding is badly hurting the textile production.
"We are optimistic that after the establishment of new government, the power crisis will also be controlled", they said affirmatively. Sources also said that a meeting was held between the textile industrialists and Textile Industry Minister Shahzada Alam Monnoo. Textile Commissioner, Mohammad Idrees and Director General of Trade Development Authority, Nasir Abbas were also present there.
In the meeting, textile industrialists demanded of the government, the R&D facility should be extended to the garment sector for at least five years (till 2013) because this facility is vital for the survival of value-added export industry.
They emphasised that the financial impact of such step will add Rs 182 million per year to the national revenue. The industrialists said there should be zero duty on the import of gas generators. "In approximately 64 countries of the world, 3 percent R&D is given on the ''fabric'' and in 32 countries, 6 percent R&D is provided to the garment sector.