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Pakistan textile industry facing severe energy crisis

June 11/2012

(yarnsandfibers) -- Pakistan Textile Exporters Association (PTEA) has demanded refund of deemed duty on imported industrial inputs, allocation of 30 billion rupees for local taxes drawback regime and relief of 0.5 percent on withholding tax of exporters. In a communication to parliamentarians, Rana Arif Tauseef chairman PTEA said that exporters' demands do not involve any burden on the exchequer but is only reallocation of priorities to facilitate the export sector and to strengthen the national economy.

Drawing attention towards the importance and role of textile industry and exports in national economy, he said that textile industry was in grip of severe gas and electricity load shedding and is confronted with liquidity crunch and tough international competition. Textile exports have dipped by 1.33 billion dollars over the last seven months and are estimated to further go down by 2.5 billion dollars by end of current fiscal, he said and added that thousands of mills have been closed rendering millions of workers jobless. Resultantly industry is being shifted to other countries and we are losing our traditional export markets. This negative trend could be stopped with only some readjustments and reallocation of funds in current budget, he claimed.

Continuing, Rana Arif said that emergency measures on solid and practical basis are required to resolve the energy (gas and electricity) crisis in order to keep the wheel of industry running and to strengthen the economy of the country. He apprehended that gas crisis would turn severe within next three months and will further deepen the crisis.
Author:Anna Larionova
Tags:PP, fibers/filaments, tekstil.
Category:General News
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