Textile sector forms group to safeguard interests
Karachi: Stakeholders in textile industry agreed to form a federation to safeguard the sector’s interests after turmoil last year when duties and quota restrictions were imposed on cotton yarn exports.
The decision to set up Federation of Pakistan Textile Industry FPTI was made at a round-table organized by Pakistan Readymade Garments Manufacturers & Exporters Association PRGMEA. Its goal is to evolve a joint strategy to help the industry cope with the fall-out of dropping cotton prices.
Sixteen textile industry associations representing cotton farmers, ginners, spinners, weavers, denim exporters, processors, the sizing industry, and apparel exporters attended the conference.
PRGMEA chairman Ijaz A Khokhar urged government to ensure uninterrupted energy supplies to textile industry in a bid to generate demand for consumption of local cotton within the country. He said government should release delayed claims by apparel exporters under Drawback of Local Taxes & Levies DLTL scheme.
Husain Jehanian Gardezi of Farmers’ Associates of Pakistan FAP claimed farmers are “weakest” stakeholders in entire textile value chain, and that protection of the farmers’ interest is key.
Adil Butt, former chairman of Pakistan Hosiery Manufacturers Association PHMA said industry should seek subsidies from government instead of demanding measures that are detrimental to interest of other sectors. Speaking for apparel exporters, MI Khurram, owner of Comfort Knitwear said proposed federation should concentrate on issues like energy and interest rates that impact whole value chain.