“A product, which we used to sell at $5.5 dollar is not acceptable even at $5 to buyers because they are getting it at $4.5 from Bangladeshi exporters”, one exporter of knitwear said.
Zuabir Motiwala, a leading textile industrialist, who is frequently consulted by the government on thje textile sector issues and who is also member of the task force on textile, don't see a promising future for the country's textile export if the current situation persists in the days to come.
He suggested that as a short-term measures the textile sector be helped by giving quick doses of incentives, and on a long term basis, a comprehensive strategy be evolved to help the industry, especially reducing the cost of doing business, which was a major concern for this sector.
Asked about the textile package, Mr Motiwala claimed it was still to be implemented as the sector was waiting for the incentives given in the package. “The R&D support is also on paper,” he said.
“A major issue for the sector is swapping of loans as part of long-term financing in the textile package, but unfortunately this is yet to materialize," he added.
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