Islamabad Chamber of Small Traders has asked the government to resolve the issue of ailing textile sector to stop fall in exports.
One of the most important sectors of economy is textile which is facing many problems including high cost of doing business which has become a threat to the economy, said Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt.
He said that the government had reduced prices of natural gas for industrial sector recently which has not gone down well with the largest foreign exchange earning sector.
The decision has resulted in a gap of Rs 530 per mmbtu in the price of gas for industry in Punjab and other provinces which has become a big problem, he added.
Shahid Rasheed Butt said that export sector should be provided facilities so that they could compete with other countries which were grabbing share of Pakistan in the international market. Patronage of textile industry has become imperative as the continued fall was threatening largest export earning sector of textiles which was also the largest employment provider outside agriculture, he added.
He said that the exports of competing nations continued to rise while Pakistan's exports were coming down which was very disturbing. Some issues including delayed refunds have resulted in increased cost of doing business and unmet obligations damaging country's reputation. The issues that continued to erode country's competitive edge in the international market must be resolved on preference.
