Unproductive and baseless proposals by the non-stakeholders are impeding the government's efforts for revival of ailing textile industry, while Pakistan Textile Exporters Association (PTEA) strongly condemned the fictitious representatives of textile industry and their non-progressive and unproductive proposals.
Commenting over the Textile Industry here on Thursday, Chairman Pakistan Textile Exporters Association Ajmal Farooq and Vice Chairman Muhammad Naeem criticised the baseless statement of putative Chairman of Council of All Pakistan Textile Associations Zubair Moti Wala published in newspapers and termed it highly unfortunate that some outsiders without any link with textile industry are misleading the Government with their baseless suggestions, sabotaging the efforts for revival of textile sector. These elements are totally against the revival of country's major export industry and are playing just for their own vested interests, they added. Government is moving in the right direction for the upliftment of the exports. The consideration of custom rebate and cash subsidies is a positive move which would not only help restore the competitiveness of textile industry in international market but would also revive the substantial capacity to produce exportable surplus.
We appreciate the Government's vision for economic prosperity through industrialisation and economic growth. The initiatives taken in this regard are proving fruitful. Textile exporters recognised the generous efforts of the Commerce Minister Engr. Khurram Dastgir Khan for sustainable growth in textile exports but vested elements are hampering government efforts for their own interests. They urged the Government to immediately announce cash incentives for ailing textile industry to steam up the export growth and retain its share in global trade.
PTEA Chairman Ajmal Farooq was of the view that competing countries like Bangladesh, India, China and Vietnam are rapidly multiplying their exports just because of the edge they have on the cost of doing business and incentives offered by their governments. High cost of production and highly competitive markets are major hurdles in export growth. The pragmatic incentive schemes need to be announced to reduce the cost of production and to create a level playing field, he suggested. The business representatives should put their own interests aside and identify the factors which hinder business ventures and should propose measures for raising investment, he added. He urged the Government to announce much awaited incentive package without further delay in order to avert shortfall in exports, achieve sizeable growth, utilise idle capacity, create jobs and attract investments in the country. This would lead to the resurgence of presently impaired textile industry and reap the socio-economic benefits for the country through a strong textile industry. A rise in exports will help the government boost its revenues and invest in the development of the country; he said and added that textile industry is seeking removal of extra taxes, offer cash incentives and competitive energy prices compared to the region.
PTEA disclaimed the baseless proposal of putative Chairman of Council of All Pakistan Textile Associations Zubair Moti Wala against cash incentives for textile industry and demanded the government to immediately announce incentive package as promised by the Prime Minister to boost the textile export industry.