Towel Manufacturers Association (TMA) being a part of the value-added sector of the textile industry is disappointed with the package given to APTMA on Saturday by the federal government. TMA said that 1 percent reduction in the ERF and LTF facilities will not resolve the burning issue of high cost of production which the industry is currently facing. The recent increase of 23 percent in the gas price is proving to be the last nail in the coffin for the towel exporters of Pakistan.
TMA appeals to the government to immediately give relief to the value-added export industry by providing the industry with a level-playing field against the competing countries. TMA seeks the following from the government in order to be competitive again in the world market: Reduction in the rate of the utilities (Gas, Electricity and Water) and its 24/7 availability to the industry and refund of the 9.62 percent indirect taxes on the towel exports. They said that these issues were not resolved on immediate basis, the country will see further decline in the exports in the near future.-PR

Copyright Business Recorder, 2015

Comments

Comments are closed.