New Trade Policy Ignored Textile Sector: PYMA
New Trade Policy has ignored the vital Textile Sector and failed to integrate and solidity the weak export potential sectors in the name of diversification. This was stated by Pakistan Yarn Merchants Association Sheikh Muhammad Qasim talking to newsmen here today. He said that the Trade Policy announced by Commerce Minister does not mention any measure to stem the dwindling exports of the Country over the last two years and provides no incentive to Textile Exporters.
The value added textile sector which is the major export earning sector of economy is still confronted with the problems of energy shortage. There has been no respite in load shedding of Electricity or Gas for this sector. No incentive or reduction in cost of production has been given. Resultantly the Textile Exports have become uncompetitive compared to regional rival countries.
He said the Trade Policy should have strengthened the Textile Exports Sector as well and diversification should have been both of products and destination he drew the attention of the Commerce Minister towards the major problems confronting the Textile Exporters. Liquidity was the biggest hurdles in expansion of exports as millions of capital of exporters were blocked in refund raging he said. Similarly cost of production, energy crises as well as raw material and overhead expenses rendered the Pakistani Exporters unable to compete. He urged upon the Government to devise policy to promote all sectors appropriately to bear themselves up for exports