Pakistan Textile Exporters Association has welcomed the incumbency of new Federal Secretary Commerce Zafar Mahmood. In a statement issued here on Wednesday Khurram Mukhtar, Chairman and Sohail Pasha, Vice Chairman Pakistan Textile Exporters Association, said that the new incumbent is very experienced bureaucrat with multiple stints in textile and other ministerial appointments.
He is a seasoned personality, having vast background to discharge responsibilities at highest level, they added. Implementation of trade policy initiatives would receive necessary flip and speed with new incumbency, they hoped. The country is passing through a very critical period and is in dire need of sagacity and appropriate handling of sensitive issues, they stated.
Textile industry and exports have been hit hard by escalating prices of raw material and the cost of doing business has increased considerably, they said. The industry is doubly burdened with price hike as well as the shortages of gas and electricity. Resultantly the productivity and industrial output has decreased and the exporters are unable to fulfil their commitments with their foreign buyers, it was explained. Further more the textile exports being on decline due to indiscriminate exports of cotton and cotton yarn; it is apprehended that Pakistani exporters would be losing their export markets by conceding advantage to their rival countries.