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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,004
6624hr
Pakistan Cases
1,215,821
3,01224hr
5.3% positivity
Sindh
447,678
Punjab
418,196
Balochistan
32,671
Islamabad
103,549
KPK
169,972

FAISALABAD: Advisor to the Prime Minister on Trade, Textiles and Investment Abdul Razak Dawood, while addressing a meeting at the office of Pakistan Hosiery Manufacturers and Exporters Association (PHMEA), said that DLTL for textile sector would be continue in future to further increase the export of value-added textiles.

He said the biggest problem of exporters was zero rate of sales tax. "I will talk to the prime minister and the finance minister myself", he added. He said that for the textile sector, electricity tariff rate will be at 9.00 cent per kwh while gas will be delivered at 6.5 dollars per MMBTU.

Earlier, while delivering the welcome address, Senior Vice Chairman Mian Farrukh Iqbal gave a brief introduction of PHMA and said that PHMA was the largest and selected exporter of knitted garments. "It has more than 2,000 member companies across Pakistan and has the distinction of providing the most employment opportunities in the country," he added.

He said that PHMA members earned more than 3.5 billion annually in foreign exchange while the association had offices in Faisalabad, Karachi, Lahore and Sialkot. "Our association has increased exports by 33 percent in 11 months, while our growth in May is more than 62 percent," he said.

He said that "with the efforts of PM Imran Khan and his team which you are leading, Pakistan has achieved the target of 25.3 billion for the first time in the history of the country."

He said that after closure of factories due to Covid last year, exporters could not increase their exports by more than 10 percent so the condition of incremental for DLTL should be removed and DLTL should be given at flat rate. He said that while continuing this policy in future also, the rate of DLTL should be increased and DLTL should be given once at flat rate.

Speaking on raw material, he said the export of yarn should be banned till domestic needs were met. Former chairman, Central PHMA, Dr Khurram Tariq, while giving a presentation on textile policy at the meeting, said that textile policy had not been issued by the government yet, adding "so how can we confirm the export order with our buyers, because electricity and gas rates have not been confirmed and no DLTL notification has been issued."

He said "if we want to increase exports on a permanent basis, we have to increase the production of domestic cotton and also focus on structural issues. Even today, the prices of our yarns in the international market are 10-15 percent higher. It is unfortunate for our country that traders are earning more than manufacturers," he said. He added that freight charges had also risen from 2,000 dollars to 7,000 dollars.

Syed Zia Alamdar Hussain, former senior vice president of the chamber, said that five percent customs duty on yarn imports should be abolished immediately so that the value added textile sector could get yarn at cheaper rates.

Chaudhry Salamat Ali, Group Leader and former Chairman Central PHMA, called for the issuance of Textile Policy 2020-25 and said it should be issued immediately while customs duty on import of yarn should be abolished.

Syed Nahid Abbas said that due to increase in exports, there had been a shortage of containers in Pakistan, which had kept goods lying for one to two months, which was a serious problem for exporters.

Faizullah Kamuka, Chairman Standing Committee on Finance, said that "other issues related to FBR or yours will also be resolved soon."

Nahid Abbas, Qamar Aftab, Mian Kashif Zia and others also addressed the gathering.-PR

Copyright Business Recorder, 2021

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