Ultimate magazine theme for WordPress.

PHMA Demands Govt To Reverse Its Decision Of Allowing Cotton Yarn Export

FAISALABAD– Despite categorical assurance that the federal government would not allow export of Cotton Yarn, the media campaign by the Textile division has rocked the entire value added textile sector.
The government must reverse this decision to save national exports from yet another crisis.
The demand was put at a press conference held at the Pakistan Hosiery Manufacturers & Exporters Association) House on Monday.
Mian Kashif Zia, the Senior Vice Chairman PHMA, told reporters that as against the initial estimates of 15 million bales of cotton we have harvested only 10 million bales.
“It has already created shortage of cotton and cotton yarn in domestic market while export of Cotton Yarn will further aggravate this situation”, he said and added that we would not allow previous anti industry polices in new Pakistan. He said that it will be tantamount to discourage our value added sector by allowing export of raw material to our international competitors.
Syed Zia Alumdar Hussain, the President Faisalabad Chamber of Commerce & Industry (FCCI), said that a meeting of the task force for the development of textile sector was held on March 30 with Abdur Razak Dawood Advisor to PM on Commerce and Industry in the chair.
He had assured that government was committed to support the value added textile sector which was contributing its key role in earning precious foreign exchange in addition to providing jobs to the maximum workforce. He termed the decision to export Cotton yarn which is a raw material for the value added textile sector as death warrant of the textile sector.
He told that by exporting Cotton yarn actually we are only exporting the relief provided in the form of subsidized electricity and gas tariff.
He said that alike previous government the ministers included in this cabinet also have their personal stakes in the spinning sector and hence they are hatching conspiracies to crush the value added textile sector.
He further told that government has assured that refund claims of sales tax would be paid through negotiable promissory notes but still no progress has been witnessed in this respect.
“I have requested Mr. Zafar Iqbal Sarwar coordinator to Advisor to PM on Textile to take their message immediately to Prime Minister to intervene and take immediate decision as per broader outlook of its government to discourage the export of raw material.
He also pointed out that government should withdrawn ten percent regulatory duty on Cotton yarn and 52% duty on polyester to generate much needed manufacturing activities
Mr. Arif Ehsan Malik chairman All Pakistan Bed sheet and Upholstery Manufacturers Association warned that value added textile sector is being forced to start protestation by taking such illogical decisions which are also contradictory to the policies of the government to bridge the import-export gap.
Zafar Iqbal Sarwar coordinator to the Advisor to PM told that PTI had formulated textile policy by taking all stakeholders into confidence.
“There was a complete consensus that government will focus on value added textile sector instead of encourage the export of raw material”, he added and we not allow anybody to deviate from it.
Regarding delay in issuance of promissory notes, he told that there were some legal hitches which have now been removed and these would be issued to the exporters positively before April, 30, 2019.
Dr. Khurram Tariq told that value added textile sector needs Rs5 Billion for the import of fine Cotton yarn count.
He told that this sector has potential to increase exports manifold provided government resolved its immediate issues.
He claimed that this sector could earn much more than the government begging from IMF.
Chairman APTPMA Eng Rizwan Ashraf, Waheed Khaliq Ramay, Ijaz A Khokhar, Ch. Muhammad Nawaz, Ch. Abdul Haq, RanaTalib Hussain, M. Amjad Khawaja and industrialists were also present in the press conference.— PRESS RELEASE