Multan, January 03, 2017 (PPI-OT):Textile Mills owners, industrialists and value added sector have appealed to the Prime Minister to save textile industry and exports from total collapse and announce the much-awaited textile package immediately. They said that the export data for November does not reflect the ground realities of the textile industry, which is plagued with high cost of doing business all across the value chain.
President of MCCI Khawaja Jalaluddin Roomi said only a comprehensive textile package would be the answer to avert fall in exports both in quantity and to achieve sizeable growth. He said such a myopic approach does not serve national interest and all such individuals should stop misguiding the policymakers through incorrect statements. He said only a competitive environment would attract the investors to undertake investment initiatives to increase exports and create jobs in the industry.
“There is an urgent need of energy cost equalisation across the country and of bringing down the high cost of doing business to ensure viability and growth of industry,” he added. He said the high cost of doing business has already decreased production capacity in Punjab, worth $3.5 billion, where 70% of the total textile industry is located at present. Roomi urged the prime minister to announce a textile package and personally spearhead investment and export growth meetings.
Further, he said, an increase in value of textile exports is mainly due to the increase in the commodity prices worldwide. Comparison of exports for November 2016 against November 2015 is a meaningless exercise, especially when there is a constant drop in exports from July till date, he added. He said the exports for November 2016 in quantitative terms are on the declining side, for example, fabric exports registered a decline of 23%, which proves industry point of view.
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