Pakistan Textile Exporters Association (PTEA) has expressed grave concern over undue delay in shipment of textile consignments resulting in heavy congestion of export containers at Karachi Port. A statement said here on Saturday.
In the statement Chairman Pakistan Textile Exporters Association Ajmal Farooq expressed serious concerns over the ongoing situation and was of the view that exporters may have to face losses of millions of rupees on account of undue delay in shipment.
A huge quantity of export shipments is ready to be shipped as per the deadline given by the foreign buyers but vessels are sailing away without the consignment, he added.
National economy relies heavily on textile exports and a crisis like situation is posing serious threat to the viability of the industry.
The industry is not able to meet international commitments and failure to perform will lead to disputes, loss of valued customers, loss of market share as well as damage to Pakistan’s reputation as a reliable supplier, he said.
The country’s exports are already under pressure and continuous decline in exports is hitting hard against the industry and economy as well. “Our trade deficit has already reached at the highest point and national debt is also on the hike, our economy couldn’t bear any disruption in export cycle. If the situation would continue, our exports could fall horribly”, he apprehended.
The PTEA urged the government to take stock of the situation and direct the port authorities to release the export consignments on a priority basis. If the situation remains, the exporters will have to face huge financial losses for shipping their goods by air to fulfill their commitments or lose their hard earned export contracts.