An appeal was issued to appealed to President General Pervez Musharraf and Prime Minister Shaukat Aziz to take remedial measures or else be mute witness to stunted textile exports growth.
This was announced at a press conference held recently under the aegis of Pakistan Textile Exporters Association (PTEA) and Faisalabad Garment City (FGC).
It was discussed that in spite of best efforts by textile exporters, only 18 percent growth could be achieved as against 32 percent targeted, even though Pakistan was manufacturing facilities.
This was due to stiff regional competition from China, India and Bangladesh and their products were flooding international markets with their cheap textiles.
According to them, textile sector contributed 65 percent towards the national economy and provided maximum jobs to the people in the country through investment for revamp and expansion of industrial units to improve quality and quantity to thus compete in international markets.
Textile exporters demanded a unique package of elimination of the Export Development Fund levy and adjournment of loan repayments for next two or three years, for ensuring continuous economic growth and to attain export targets.
According to them, the production cost was less in other countries in comparison to Pakistan and those countries were exploiting the situation to capture the markets.
They feared that negative impacts of the arising situation would not take much time to percolate down.
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