Pakistan Textile Industry faces 40% industries closure
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ISLAMABAD: The Standing Committee on Textile Industry expressed concerns over frequent decrease in country’s export due to non-provision of Sales Tax refunds.
The committee also show apprehension on non-availability of basic facilities in textile sector which resulted in increase in trade deficit between import and export.
The meeting of the Standing Committee on Textile Industry held here on Tuesday under the Chairmanship of MNA, Khawaja Ghulam Rasool Koreja.
The Committee was informed that the textile sector was facing difficulties in improving the export which needs to be addressed in order to improve the performance of Textile Sector.
The Committee expressed its reservation over the closure of 40% industry due high tariffs of electricity and gas to value added associations.
The committee recommended that tariff of gas, Power and Wages should be brought down at par with regional competitors to make it competitive in the international market.
