The All Pakistan Textile Mills Association Chairman Tariq Saud has said the Strategic Trade Policy Framework 2015-18 have no mentioning of the textile industry, which constitutes 57 percent of the country's exports. "How the government can achieve a target of $35 billion exports under this framework without addressing the issues confronting the growth of textile industry?" he questioned.
He said the competitiveness issues of the textile industry are yet to be addressed, which included removal of incidentals of taxes on exports, DLTL, product focus market schemes, Export Refinance to the entire textile value added chain, payment of stuck up refunds, availability of all types of raw materials, cotton and man-made fibre, at international competitive prices, FTAs/RTAs based on comparative advantages and cotton research through public private partnership under the PCCC functioning with the support of Association members.
He said the Association has often been suggesting the solutions through representations with an aim to double the exports and attract new investment to the sector. "But still, neither the STPF 2015-18 nor the Textile Policy for 2014-19 has hardly introduced any incentive to achieve these objectives," he lamented. "Achieving the export target of $35 billion without these measures would be impossible at the very outset of the policy."
He has further underscored the need of strengthening both the domestic and international market for an increase in the exports, saying that there is strong need of safeguarding the domestic textile commerce from the invasion of subsidised textile products. He said 15 percent regulatory duty should be immediately imposed on synthetic yarns and fabrics meant for domestic consumption.
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