Talks with the government are underway for the payment of export refunds so that the liquidity crunch being faced by textile exporters could be resolved, said Zubair Tufail, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
Talking to media along with other senior members of FPCCI during his visit on the second day of the 10th international textile machinery and garment technology exhibition, IGATEX Pakistan 2017-Exhibition and Conference, here on Thursday at Karachi’s Expo Centre, Tufail hoped that the issue of refunds would be resolved shortly. “Payment of refunds would ease financial burden of exporters as the cash flow position would improve but it will also boost the morale of exporters”, he added.
Appreciating the efforts of the organizers of the exhibition, FPCCI president noted that Pakistani exporters need modern technologies and machineries to enhance their share in international market. “I am happy to see the products and their quality being displayed at the exhibition”, he contented.
He stressed for the introduction of latest machinery to increase textile production of Pakistan. “Bangladesh, despite cotton deficient country has around $35 billion exports. Similarly, other countries which are opting for and adapting to newer ways of production are increasing their market share,” he added.
Saleem Khan Tanoli, CEO of FAKT Exhibitions while sharing the feedback of the exhibition told media that hundreds of visitors mostly engineers and technicians are visiting to exchange views and get information about machinery being displayed.
He reiterated Pakistan’s need of modern machinery and technology, and this event provides platforms to the traders and industrialists. “The exhibition is playing a vital role in the introduction of the most modern machinery to the local industrialists, ultimately increasing their productivity manifold,” Tanoli added.
The improved law and order situation of Karachi has encouraged foreign exhibitors, which reflects the number of companies participating in the show, he noted.
In the exhibition, organized by FAKT Exhibitions, more than 550 companies of 35 countries are participating with their latest machinery. Among others, 73 are Italian, 70 German, 50 Chinese, 25 Turkish and 80 Pakistani companies are showcasing their products.