Sunday, August 14, 2022

Textile exporters want to shift industries to other countries

Pakistan Apparel Forum (PAF) Chairman Jawed Bilwani said textile exporters want to shift industries to other countries due to gas crises and an unviable business environment.

“During the fiscal year 2020-21, about 99 days out of 320 working days, the gas pressure was zero or low,” he added.

The textile industry is one of Pakistan’s top export industries, said a textile industry research analyst. Exports registered $13.8 billion in just the first 11 months of the 2020-21 exit fiscal year.

Likewise, non-export industries are also not sourcing gas according to their needs. These industries also play a vital role in manufacturing value-added products for export industries and also produce products to meet local demand, said North Karachi Association Industry and Trade (NKATI) president Faisal Moiz Khan.

Exporters questioned how industries would function without the basic raw material. They expressed concerns that there is no chance that textile exporting industries will get the necessary gas without problems with adequate pressure in the future.

Moreover, textile exporters with RLNG connections and paying the amounts with great difficulty to fulfill export orders at a rate of Rs1,533 per MMBtu, do not receive gas.

Therefore, Textile exporters want to shift industries to other countries.

Textile exporters have formed a due diligence committee to relocate textile export industries elsewhere, on-demand from exporters, to correspond and negotiate with countries that have much better business and export-friendly policies and are offering more incentives attractive to its foreign investors as well as its local industries.

Khan urged Prime Minister Imran Khan to restore Karachi’s industries and save them from destruction so that production activities can resume as usual and workers can be saved from unemployment.

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