The Pakistan Apparel Forum (PAF) has warned of catastrophic consequences if demands of the "value added" sector were not met on war footing. PAF, in a press release on Wednesday, cautioned that if the government failed to comply with their demands immediately, the apparel sector would be compelled to shut down their all units.
PAF terming the new budget devastating to value added industry, saying that closing of units would leave the workers unemployed, which could result in mass agitation. The forum said that with a likely extra burden of minimum salary package the sudden impact of Budget FY2007-08 should be diluted immediately.
PAF demands included continuation of six percent research and development support till 2010, establishment of Apparel Board separately, having representation in the Board of Governors of Trade Development Authority of Pakistan, grant of export development unit status to the sector, abolishment of Export Development Surcharge, a 0.25 percent cut in income tax on exports and special gas tariff on export performance via tariff discount.-PR
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