Business Trade

Textile Package To Be Revisited To Bridge Widening Gap Between Imports And Exports; State Minister

FAISALABAD, (APP):Textile package will be revisited to bridge widening gap between imports and exports and in this connection more funds could be allocated in consultation with the finance ministry, said Hajji Mohammad Akram Ansari State Minister for Commerce and Textile.

Addressing the members of (PHMA) North Zone here Saturday, he said that had a meeting with representatives of various chambers of commerce and industry including Faisalabad Chamber of Commerce and Industry (FCCI) during last month.

”The textile related issues were discussed in this meeting”, he said and added that all the representatives briefed the PM about their collective problems along with their viable solutions. He told that he along with and Textile Pervaiz Malik also had a separate meeting with the PM and requested him to facilitate textile exporters as it is the only readily available option to give a quantum jump to national exports.

Ansari further told that a meeting of Federal Textile Board was held yesterday and it was also attended by representatives of Faisalabad. He told that entire sectors of textile chain were represented in this meeting excluding power looms sector. He told that he has directed to include power loom sector in this board and hopefully this directive will be implemented very soon. Quoting the meeting of PHMA, he said that most of the issues highlighted in it were related to the finance ministry.

However, most of these issues have already been resolved or under process. He told that refund is the major problem of all sectors and a positive development has been recorded in this respect during last 3 to 4 months. He told that he will attend a meeting in RTO on Monday to settle down issues relating to local tax office including delay in audit of refund claims. He told that fund of Rs. 7 billion is lying with RTO which could not be disbursed due to their procedure constraints.

He stressed the need for technological up-gradation in textile sector and said that our industrialists lack innovation. They are installing one after another power looms but are not ready to technological up-gradation. He said that our textile sector should be switched over to technical textile to survive in fast changing environment.

He told that in international technical textile market of 160 billion dollars, the share of is hardly less than 0.5 percent. He assured to set up technical textile centers throughout Pakistan with the funding from export development fund. He requested value added textile sector to submit viable recommendation for the establishment of these centers.

Earlier, in welcome Mian Naeem Ahmed chairman PHMA demanded that zero rating of five export sectors should be enforced through an act of parliament. “It will check the repeated changes made in this decision by FBR through SROs”, he said and added that at present the textile ministry had a different interpretation of this facility from that of finance ministry.

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