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    Tuesday, 20 June 2017

    Textile industry observed ‘black day’ today

    MULTAN, June 20th: Textile industry in South Punjab Tuesday (today) observed black day across the Southern region against, what it termed, the anti-industry and anti-export policies of the government. Talking to Media men, APTMA Multan Chapter's coordinator M.Anees Khawaja and President of  Multan Chamber of Commerce & Industry Khawaja Jalaluddin Roomi said that black banners inscribed with our demands and black flags were hoisted atop of industries to observe the black day . They claimed that all chains including spinning and value added sectors are on board and  joined the protest. They reiterated  their demands i.e implementation on Prime Minister Package of Rs.180 billion for exporters in letter and spirit, clearing the outstanding refunds and bringing the energy prices comparable to other regional countries.They said that Mian Nawaz Sharif had announced incentives worth Rs 180 billion on January 10, 2017 in a bid to boost country’s falling exports. But only Rs 4 billion were earmarked in the budget 2017-18 after six months  which is a big joke with the industry.
    The APTMA Coordinator said that mere announcement will not increase country’ exports and the government should take practical measures to implement the package. He further said that around Rs 200 billion of the textile industry are stuck up with the government under sales tax, duty drawbacks, etc, and this is creating severe liquidity crunch for the industry. “If we cannot buy raw material due to liquidity crunch, how will we increase exports,” Anees Khawaja added. Chairman of All Pakistan Bedsheets and Upholstry Manufacturers Association (APBUMA)Khawaja Muhammad Younas said that due to high input cost, including electricity and gas prices, Pakistani textiles are no more competitive in the international market. Electricity is available at Rs 11 kwh for the industry in Pakistan compared to Rs 7/kwh in other regional countries including Bangladesh, said Fayyaz adding that industry is burdened with Rs 3.63 kWh surcharge on electricity and GIDC on gas which cannot be passed on to the international buyers. Furthermore, RLNG is available at Rs 1000 MMBTU in Pakistan against Rs 400 in Bangladesh. In such circumstances the industry can not compete in the international market and exports are on the decline trajectory.

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    Item Reviewed: Textile industry observed ‘black day’ today Rating: 5 Reviewed By: Abdul Sattar Qamar