Import of raw material: Apbuma welcomes decision to withdraw RD

FAISALABAD: Engineer Bilal Jamil Senior Vice Chairman All Pakistan Bed sheets & Upholstery Manufacturers Association (APBUMA) has welcomed the decision to withdraw regulatory duty on the import of raw material.

In a statement issued here today, he said that availability of raw material is very important to continue the positive trend in the export of value added textile sector. He said that withdrawal of regulatory duty is actually in-line with the vision of Prime Minister Imran Khan to encourage exports in order to bridge the widening gap between imports and exports.

He particularly appreciated the efforts of Abdul Razak Dawood who personally took up this issue at the highest forum to ensure availability of yarn at reasonable rates in the backdrop of low cotton production in the country. However, he said that this decision will partially resolve the issue of yarn availability and the government must further facilitate this foreign exchange earnings and job creating sector.

He further said that it is necessary to achieve the projected target of textile exports to 46 billion dollars. He said that the Government should also take similar steps to ensure the availability of other raw materials used in the textile sector.

He also mentioned the impact of corona and said that the Government should ensure immediate payment of refund claims to resolve the liquidity problems faced by the exporters.—PR

Copyright Business Recorder, 2021