FAISALABAD -  All Pakistan Cotton Power looms Association (APCPA) have expressed grave concern over the decline of cloth exports and warned that the prevailing situation is yielding negative impact over the power looms Industry.

which is facing serious financial crunch and unfavourable doing business environment in the country.

Addressing the APCPA executive committee members, APCPA Chairman Choudhry Abdul Haq demanded that the government should be given special rebate to power looms Industry to control the multiple financial crisis as well as to promote cloth exports. Presently, he mentioned that power looms industry is bearing multiple direct and indirect taxes including sales tax, severe circumstances of Import of Indian cloth including Shafoon and Silk cloth. This situation also yielding unemployment in the country and stopped fresh investment in Powerlooms Sector, he added.

Choudhry Abdul Haq pointed out that the industry is already registered with the sales tax and the government is collecting sales tax at multiple stages through electricity bills, petroleum products. The import of Indian cloth, Shafoon and Silk products, is yielding negative impact over Pakistani Industry and export business. He said that more that 50 percent power looms already closed down and unemployment reached at dangerous level. He appealed to the government for taking notice immediately and should given special package and rebate to the power looms Sector.

Taking steps to enhance cotton products exports: govt

Adds APP from Islamabad: on the other hand, the government has stated that it has taken a number of steps to enhance country’s exports of cotton products.

Under Textile Policy 2015-19, an amount of Rs64.15 billion will be spent on the textile sector to double the exports of textiles and clothing sector from the existing thirteen billion to twenty-six billion dollars, Radio Pakistan reported.

In order to reduce cost of doing business, the government has already reduced the electricity tariff by three rupees for the industrial units, the radio reported. The availability of affordable finance for the export sector has considerably improved as a result of measures taken by the government.

Duty free import of textile machinery is continuing during the current financial year. A technology up-gradation fund scheme for the textile sector has also been formulated to help boost exports of textile products.