Islamabad, June 28, 2017 (PPI-OT):The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Wednesday said ailing textile sector needs immediate attention of the government. The sector is the largest urban employment provider and largest foreign exchange earner which deserves resolution of the problems which has taken toll on exports, it said.
Energy crisis, refund claims, input costs, the burden of the taxes, lack of enabling rules and other issues has increased the cost of doing business for this important sector, said Atif Ikram Sheikh, Chairman FPCCI Regional Committee on Industries. 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 reflects 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 of the 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 and allow liberal import policy for raw materials can save one of the most important industries of the country.
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