MFN move to hurt textile industry
Islamabad: [Dec 04]
The Pakistan Economy Watch (PEW) on Sunday said MFN status to India will damage local value-added sector which is providing jobs to millions and contributing more than any sector to the export earnings.
Rising input costs, burden of taxes, infrastructure issues, lack of enabling rules and regulations, deteriorating law and order situation and extortion has increased cost of doing business substantially, it said.
Our production is restricted, exports are shrinking and we stands at disadvantage as far as economy of scale and government's support is concerned, said Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW).
He said that instead of moving forward with the value addition, country is going backwards by exporting more of the raw materials like cotton and yarn.
All regional countries are following good practices, paying hidden subsidies while India allows export of surplus cotton only which results in stability for value-added sectors; Pakistan should also follow such enabling policies, he said.
Dr. Murtaza Mughal said that a proper regulatory policy for cotton and yarn exports can save one of the most important small scale industry from losing its share to Bangladesh, Sri Lanka, China, Vietnam and India. This can reduce closures and bankruptcies, he added.
Pakistan cotton and textile exports stands at $14 billion while Indian exports have touched $24 billion, up to our total exports, he said.
He said that government should immediately release local levies drawbacks amounting around Rs 25 billion, held since two years.
Pakistan ranks lowest in the region as far as profit per cotton bale is concerned, he informed. He stressed the need for Joint ventures with foreign apparel manufacturers and technology upgradation.
--
Dr. Murtaza Mughal
Cell: 0321-5157671
President Pakistan Economy Watch
Tariq Khattak, Islamabad, Pakistan.
GSM = 0300-9599007 and 0333-9599007
Email: Tariqgulkhattak@gmail.com
Thanks for participating.
Kindly suggest improvements.
Please let us know:
I. If you want to receive individual emails
II. Receive one mail with all activity in it
III. Do not want to receive any mail at all
REQUESTS:
1) Please directly contact sender for personal/individual correspondence.
2) Try to discuss issues that will catch attention of many readers.
3) Please avoid sending messages in any language other than English
4) Avoid sending messages addressed to many recipients.
5) Do not send messages aimed at personal publicity.
6) Please do not send personal/other links unless necessary.
7) The Group is not obliged to publish printed news,
very short/long comments and objectionable material.
8) Every mail cannot be published; it will overload Mailboxes
of our valued members.
9) Try to Disagree Without Being Disagreeable, Unsympathetic and/or Unpleasant.
x==x==x==x==x==x
Please note that,
It is a common platform for journalists and all others who are interested in knowing about the issues that are sometimes not reported. This group favours philosophy of progress, reform and the protection of civil liberties. Please share and educate others. The owners and managers of this site do not necessarily agree with any of the information. It is an open forum; everyone is allowed to share anything. Mails sent by members and non-members are subject to approval. However, we are not responsible in any way for the contents of mails / opinion sent by members. We do not guarantee that the information will be completely accurate. (Nor can print and electronic media). If you find content on this site which you feel is inappropriate or inaccurate, incomplete, or useless you are most welcome to report it or contradict it.
Thanks a lot.
0 comments:
Post a Comment
Gujranwalafun@Aol.com
Gujranwala@windiowslive.com