Wednesday, November 15, 2017
Trade
Textiles comprise 57% of Pakistan's export revenues. However, in
recent years, textile exports have declined significantly. Textile exports were
recorded at $11.625 billion dollars in 2014-2015. In 2015-2016, this number had
dropped 7.7% to $10.395 billion.[8]
The Pakistan Textile Exporters Association recently requested
the government to take significant measures to ensure the growth of textile
exports and sustain the employment provided by the sector. Specifically, the
PTEA has requested:[9]
·
Zero rating on export
value chain (i.e. no tax, no refund) to boost export growth
·
Subsidize a decrease
in cost of production to boost competitiveness of Pakistani exports
·
Guarantee energy
supply to textile mills at competitive rates
Furthermore, the Pakistan Textile Mills Association has demanded
that the removal of duty on cotton imports and a rebate of five percent on
textile exports. This plea has come at a time with about 110 mills have been
shut down due to various barriers to growth including the energy crisis.[9]
