KARACHI: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Wednesday said that the ailing textile sector needs immediate attention from the government.
The textile sector is the largest urban employment provider and the largest foreign exchange earner, and it deserves resolution of the problems which have taken a toll on exports, it said.
Energy crisis, refund claims, input costs, the burden of the taxes, lack of enabling rules and other issues have increased the cost of doing business for this important sector, said FPCCI Regional Committee Chairman on Industries Atif Ikram Sheikh.
He said that the current scenario is depressing as our production is restricted, exports are shrinking and we stand at a disadvantage as far as economy and government’s support is concerned.
In this situation, the textile millers have no option but to start protests which reflect the gravity of the situation while sending the negative signals, he noted.
Atif Ikram Sheikh said that instead of moving forward with the value addition, the country is going backwards by exporting more and more raw materials, like cotton and yarn.
The business leader said that all the regional countries are following good practices, facilitating export sector, paying hidden subsidies while allowing export of surplus cotton only.
He said that a proper regulatory policy for cotton and yarn exports, liberal import policy for raw materials can save one of the most important industries of the country.
