LAHORE: Drawing attention to the plight of textile manufacturers, Pakistan Hosiery Manufacturers and Exporters Association Chairman Adil Butt has said the increasing delay in announcement of a textile package is aggravating things for the sector.
“The much-awaited textile package, hinted and promised by the prime minister to bring the industry out of crisis, is not being announced while the crisis is worsening day-by-day,” he remarked in letters sent to the premier and government officials.
According to Butt, the textile industry in general and the value-added apparel sector in particular are becoming uncompetitive in the international market.
“That is why textile exports are continuously declining for the last few years while those of our competing countries like Bangladesh, India, China and Vietnam are on the rise,” said Butt.
“Not only is our share in the global market shrinking and going to other countries, but also the unit price of our products is decreasing, resulting in reduced profitability for Pakistani exporters.”
Butt urged the prime minister to come to the rescue of the vital sector of economy and announce the relief package, as only then the exports of the country could be sustained and employment maintained. He added the capacity of the industry was under-utilised while overhead costs had increased.
Courtesy : Express Tribune