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India announces big incentives for its exporters to compete Pakistan
Free market access to EU due to GSP Plus
 
 
 
India announces big incentives for its exporters to compete Pakistan

LAHORE -  India has announced $10 billion subsidy for its exporters, declaring to provide rebate of up to 7.5 per cent to garment exporters following the free market access of EU countries to Pakistan due to GSP plus status. 
“The Indian central government as well as several provincial governments have announced many incentives for their textile exporters, including subsidies on input cost, relaxation in interest rate, rebate on export and cut in power tariff to compete Pakistan, which has, recently, been awarded the status of GSP Plus,” observed the APTMA Punjab chairman SM Tanvir.   Addressing a press conference, here on Thursday, he said that textile industry on independent feeders is facing eight hours of electricity load shedding, resulting into one-shift closure. He apprehended that if industry is not provided with uninterrupted electricity supply, mills would be constraint to opt complete closure of their operations.
Chairman APTMA Punjab also demanded the uninterrupted gas supply to the industry in order to stop closure of mills and ultimately large-scale unemployment in the province. He has urged the govt to save Punjab textile industry without delay. He said the Punjab-based textile industry is confronted with a serious challenge of sustainability on account of energy shortage, particularly gas supply, which is not being provided with as per requirement.On the contrary, he said, the textile industry in other provinces is getting 24/7 gas supply and the widening disparity of the Punjab textile industry against other provinces is inflicting Rs72 billion per annum as an additional cost. This situation is resulting into large scale closure of textile mills in Punjab, he added. He urged the govt to ensure 24/7 uninterrupted gas supply to the Punjab based textile mills in line with other provinces so as to realize maximum benefit of market access facility from the EU. He said continuity of mills operations during the outgoing winter has yielded additional exports worth $180 million during first two months of the calendar year. He said the winter season has come to an end and summer has set in, therefore, the Punjab-based textile industry expects diversion of additional gas available from space and water heating. Chairman APTMA Punjab said that the low availability of gas supply to the Industry aggravates the situation, while such industry in other provinces is being provided gas supply 24/7 resulting in extremely low energy cost for them. A large number of units without backup of gas supply and fully dependent on PEPCO were the worst hit and needed support from the Ministry of Water & Power for full provision of electricity supply, he emphasized.

 
 
on epaper page 8
 
 
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