The government has been organizing a series of seminars across the country in order to get relevant feedback, which will culminate in to a final seminar at the residence of the President, Mr Zardari. The purpose of this exercise is to understand the problems of the textile sector and submit recommendations to draft a comprehensive textile policy.
This was revealed by the Federal Minister of Textiles, Mr Khan at Lahore while addressing stake holders from the textile industry of the province at a seminar. This seminar will be followed by others at Faisalabad, Multan and Sialkot. The earlier ones were held in Karachi and Hyderabad, with the final one at the President's residence.
He said that the government would sympathetically reconsider the demands from the industry, including the one to abolish refundable taxes. He said he was positive that the industry would come through the crisis, but was worried about the liquidity position of the banks if this crisis continued for long as was expected.
He advised the exporters from the sector to explore new markets and also keep Russia on their radars as that country was the least to be affected from the current ongoing crisis. Trade body chiefs from the spinning, weaving and hosiery sectors also put up their set of demands in order to get relief measures from the textile policy.
Fibre2fashion News Desk - India
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