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ISLAMABAD: Finance Minister Ishaq Dar Tuesday said the government is committed to providing maximum support to the textile industry in order to boost export-led growth of Pakistan.

During a meeting with a delegation of the All Pakistan Textile Mills Association (APTMA)-led by Patron-in-Chief Gohar Ejaz, the finance minister directed the relevant authorities to address and resolve their issues on a priority basis. The delegation thanked the finance minister for providing support and addressing their issues.

The delegation briefed the finance minister about its contribution in the revenues, employment generation and exports of Pakistan despite the challenges being faced by the APTMA members.

Textile exports may fall by $3bn this year, warns APTMA

The delegation further apprised the finance minister about the issues being faced by the textile industry in terms of gas and electricity supply and their prices, and regarding imports and exports.

The major issues being faced by the APTMA members included liquidity crunch due to held up sales tax refunds, stuck import of raw materials due to LC opening issues and regionally competitive energy tariff.

The APTMA delegation extended their all-out support to the government in the economic development of the country and stated that they realise the tough situation being faced by the Finance Ministry. The finance minister acknowledged the contribution of the APTMA in the economic growth of the country.

The meeting was attended by Federal Minister for Commerce Syed Naveed Qamar, Special Assistant to Prime Minister (SAPM) on Revenue Tariq Pasha, governor State Bank of Pakistan (SBP), chairman Federal Board of Revenue (FBR), Secretary Power, Additional Secretary Commerce, and senior officers from relevant ministries.

Copyright Business Recorder, 2023

Comments

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Joe Apr 05, 2023 11:56am
Too much reliance on agricultural products and textile for exports has constricted economic growth in technological sectors - a must for 21st century's knowledge based economy!
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KhanRA Apr 05, 2023 12:26pm
Not while you’re in charge, Dar
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KhanRA Apr 05, 2023 12:29pm
@Joe, we have no capacity for technological growth at this time as our universities are not funded, and are run by religious scholars who do not believe in free thinking and asking questions. For now we can only create people who memorize, not scientific innovators. We should take Bangladeshi lead and use textile to build ourselves up. India tries to leapfrog menial labour, and so wealth is unevenly distributed there, and Bangladesh and Vietnam have leapfrogged india instead. We should follow their path. Indias path is experimental, and is only creating a wealthy class who dont particularly care if the poor and low castes get ahead.
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Tulukan Mairandi Apr 05, 2023 12:36pm
The world is using less clothes. Summer is approaching, women in the west wear miniskirts and daisy dukes. Dar should instead focus on more value added segments such as IT, chemicals, engineering goods, pharmaceuticals etc. But we all know Dar is not very smart.
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Jamshed Rehman Apr 05, 2023 01:30pm
I think his office was close to commercial market close to a park which was behind Mukhtar plaza and Old Iqbal plaza. I have fond memories of that time & place. Love Commercial Market Rawalpindi
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Muhammed Apr 05, 2023 03:50pm
Our educational institutions are churning out zombies. We don’t have any institution comparable of Indian I. I. T. & I. I. M. whose products are now controlling I. T. & financial sectors of US & Europe. Our scientific & agricultural research institutes are good for nothing whereas India is now not only self sufficient but exporting Wheat, Rice, Sugar, Cotton in huge quantities. Its I. T. Sector is earning hundreds of billions of dollars from abroad. This year there export figure was US$ 700+ billions.
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Muhammad Aumair Apr 05, 2023 04:56pm
APTMA textiles manupulate government this main issued liquidity only drama further DLTL scheme and refinance scheme misused why property investment and money market investment why no check and balance
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