Textile sector: KATI urges govt to restore zero-rated regime

KARACHI: Acting President of Korangi Association of Trade and Industry (KATI) Farrukh Qandhari has appealed to the government to restore the zero-rated regime of the textile sector so that local products could have access to the international market. He said that the government should also pay special attention to reduce the cost of production.

Lauding the establishment of the Textile Council by the government for the development of the textile sector, he said that the inclusion of veterans like Masood Naqi, former president of KATI, and other important stakeholders as members of the council would definitely improve the textile imports and also pay special attention to the problems of the sector.

Farrukh Qandhari said that the textile sector is also an important part of Pakistan’s imports which was neglected by the previous government and it was hit by zero-rated to 17 percent tax which affected the imports badly. He said that Korangi Industrial Area has one of the leading textile industries in Pakistan which accounts for a large share of total imports while millions of workers are working in this sector in Korangi Industrial Area.

He said KATI has always raised its voice against the government’s anti-textile policy and the burden of taxes.

With the inclusion of stakeholders in the council, it is hoped that the textile sector will again make its mark in imports, he added.

The initiative of the present government in this regard is commendable.

He said the prime minister, realizing the importance of the textile sector, immediately set up a council that could not only take advantage of the demand for Pakistani textiles in the global market but also significantly increases imports.

He expressed hope that the Textile Council would take all possible steps to address the issues facing the sector which he fully supported.

Copyright Business Recorder, 2022