PTEA Would Help Textile Exporters to Hold on to Their Export Markets

Ensuring continuous gas supply to textile industries and release of outstanding refund claims would remain the key demands of Pakistan Textile Exporters Association (PTEA), the newly appointed Chairman of the association, Mr. Asghar Ali, said while speaking at the body's Annual General Meeting.
 
He said both uninterrupted gas supply and rebate in taxes are needed to help textile exporters to hold on to their export markets in the face of global economic slowdown and severe competition.
 
He added that in spite of being a key contributor to the country's economy, the country's textile sector is unable to improve its performance due to power crisis, high bank mark-up rate and raw material scarcity.
 
The PTEA Chief said the performance of the country's textile sector is deteriorating with each passing day and called on the Government to sanction funds for export development initiatives to boost exports.
 
He mentioned that billions of rupees of tax refunds of textile entrepreneurs is lying with different government departments, which is leading to liquidity crisis, and it is holding back the sector's turnover and export growth. He assured that PTEA would make special efforts to ease the situation.
 
Mr. Ali urged the Government to focus on strengthening and fortifying the economy to boost the country's industrial productivity.