Pakistan's home textile makers are frustrated with a soaring cost of business to compete with highly incentivized Indian towel manufacturers in the global markets. The country's towel export continues to remain stagnant at $317.357 million during July-November 2017, which textile makers blame the government for not paying refunds that crippled exporters' financial backups.
"The issue of a six percent DLTL and other refunds that the government holds up have hurt the financial supplies of towel makers," home textile manufacturer and exporter, Muzamil Hussain told Business Recorder on Thursday, saying that the regional nations are now hard competitors for Pakistani products.
"India has received huge government support on all grounds to expand their exports to the global markets," he said, adding that Pakistan is even unable to compete with its products against those produced by Bangladesh. In term of towel quantity export, Pakistan exported 73,670 metric tons in July-November 2017 from 76,962 metric tons in July-November 2016, down by 2 percent or 3292 metric tons, Pakistan Bureau of Statistics said. Nothing helpful insight as yet, Muzamil said. "None is ready to buy products from Pakistanis for being high cost," he added.
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