FAISALABAD - Chaudhry Salamat Ali, Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMEA) (North Zone) has warned that the Reformed General Sales Tax (RGST) will yield negative impact on the worst crisis hit Value Added Textile Industry. Talking to newsmen, he declared that RGST bill was most complicated than on-going GST and urged the government not to impose RGST that was going to push the export-oriented and labour intensive Textile Value Added Textile Sector to the wall. He said that the textiles exporters had strong exceptions to the government for continuously ignoring the reservations of the exporters regarding the imposition of the RGST and Zero Rate facility would not be withdrawn. But it is fact the govt had not yet cleared the out standing refund claims of billions of rupees so far. He mentioned that the government was also holding up millions of exporters money under export rebate which was at present around 1%. Now it seems impossible in the present state of functioning that FBR could smoothly release 15% of GST refunds. To meet this shortfall in working capital, textile exporter/entrepreneur would resort to bank for financing its export for which mark-up rate itself is on a parallel rise. Thus Textile Value Added Textile Sector would be lead to an ultimate collapse, which facing shortage and day-by-day growing bills of Gas, Electricity and basic raw material. This situation badly upset the cost of doing business of Textile Value Added Textile Sector, he added. Ch Salamat Ali said that Energy Crisis plus gas load-shedding for four days in a week and shortage of raw materials including cotton yarn and Polyester Yarn are the hitting continuous process Textile Industry and directly threatening the competitiveness of national exports. He said that the decision for gas load-shedding for four days a week would send a very negative signal to the foreign buyers. Instead of coming up with some sort of relief package, the industry is being pushed to the wall. The gas curtailment or disconnection is tantamount to throttling the industry to death, he concluded.