Pakistan asks government to cut costs of doing textile business

In order to reverse the increase in the cost of doing business caused by the recent budget, the president of the Handloom and Traditional Textile Manufacturers and Exporters Association of Pakistan (APHTTMEA) is the president of Pakistan. Asim. Xiahe asked government officials to intervene in this issue and immediately take measures to reduce the cost of doing business so that they are on an equal footing.

Mr. Xiah said that the government needs to rescue the value-added textile sector from difficulties because the value-added textile sector is the country’s largest gambling industry and contributes nearly 67% of the nation’s income.

Xiahe added that the recent lack of natural gas and electricity was a serious concern for the textile industry because it not only caused the textile industry to suffer major production losses, but also lost the traditional global export market.

Mr. Shahi asked Prime Minister Gilani and President Zardari to extend their R&D concessions to exporters and extend the index for another four years.

Shahe said that such concessions will help reduce the cost of doing business to a reasonable level, because in Pakistan, taxes are higher than in other countries.

Xia He said that the textile industry contributed 27% to industrial added value and 38% of the employment rate in the industrial sector. Therefore, the continuous lack of electricity is a serious issue for the textile sector, and it is also detrimental to the country’s economy.

In addition, low productivity has also prevented exporters from fulfilling their export commitments.

With this in mind, Shahe suggested that the government should consider the use of hydropower resources and build it through the construction of reservoirs and power generation units. This is a more economical way of generating electricity.

Xiah emphasized that Pakistan should look for alternative energy resources.