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Textile sector APTMA chief optimistic despite declining exports

Textile sector: APTMA chief optimistic despite declining exports

LAHORE: All Pakistan Textile Mill Association (Aptma) Chairman Aamir Fayyaz said the industry is optimistic given its potential to sustain international competition.

Speaking at a press briefing, he said that the industry contributes heavily to GDP, foreign exchange earnings and employment, but declining exports have taken a toll on the economy.

However, he said that the industry is poised for a reversal of the situation. “Policy measures for export-led growth lend a helping hand in the realisation of this industry objective,” said Fayyaz.

These policy measures include the elimination of customs duty on cotton from January 2017, duty-free import of raw materials like manmade fibre not manufactured domestically and graduating drawbacks of local taxes on yarn among other measures. These measures will remove the bottlenecks in competitive operation of the textile industry.

Courtesy : Express Tribune

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