APTMA Chairman lauds govt for extending priority, importance to exporting industry

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Staff Reporter

Lahore

The All Pakistan Textile Mills Association (APTMA) Chairman Syed Ali Ahsan has appreciated the vision of the government in recognizing importance of exporting industry, the only way forward to export-led growth to overcome trade deficit and the consequent financial crisis faced by our economy.
He was addressing a press conference at APTMA Punjab on Friday. Patron-in-Chief APTMA Gohar Ejaz and Chairman APTMA Punjab Adil Basheer were also present on the occasion. Chairman APTMA said the government has fulfilled its commitment for crisis ridden exporting industry (5 zero rated sectors) by announcing regionally competitive tariff for both gas and electricity i.e. flat regionally competitive eAPTMA Chairman lauds govt for extending priority and importance to exporting industry LAHORE: The All Pakistan Textile Mills Association (APTMA) Chairman Syed Ali Ahsan has appreciated the vision of the government in recognizing importance of exporting industry, the only way forward to export-led growth to overcome trade deficit and the consequent financial crisis faced by our economy. He was addressing a press conference at APTMA Punjab on Friday.
Patron-in-Chief APTMA Gohar Ejaz and Chairman APTMA Punjab Adil Basheer were also present on the occasion. Chairman APTMA said the government has fulfilled its commitment for crisis ridden exporting industry (5 zero rated sectors) by announcing regionally competitive tariff for both gas and electricity i.e. flat regionally competitive electricity tariff US cents 7.5/kWh all inclusive and flat gas tariff USD 6.5/mmBTU all inclusive for captive and processing use in 5 zero rated sectors(exporting industry). He said the initiative of flat regionally competitive electricity tariff would not only reduce interprovincial disparity but also inter sectoral (captive/prime user) disparity. Now, prime users of electricity will enjoy the same tariff as is to captive industrial units, he added.
He said resolving the energy affordability issue is a positive step for reviving 30% closed/idle capacity, which is located predominantly in Punjab. However, he added, this regime should continue for next 5 years for the growth of industry on sustainable basis. Regarding the announcement of flat gas tariff, he said priority of exporting industry has been up-graded and moved to 2nd in Gas Allocation and Management Policy 2013.
This will ensure gas availability throughout the year, he added. In order to boost exports, he said, the government should announce long term investment and growth policy so that Industry could under take new investment decisions for technology up-gradation and value addition, which will not only generate more exportable surplus but also new sustainable jobs. He said the industry has envisaged to double exports (13.5 billion USD to 27 billion USD) in next 5 years with the investment of US $ 7 billion which will create additional 1.5 million jobs. Meanwhile, Gohar Ejaz welcomed initiatives for providing affordable energy to export industry by the government as promised to do so within a period of three months.
This will go a long way in taking the textile industry to a new height, he added. He urged the government and the economic managers to ensure earliest issuance of related notifications so that the industry can focus on production, secure export orders and undertake new investment initiatives. He also demanded of a long term export-led growth policy, containing initiatives for availability of raw materials, both cotton and polyester staple fibre, without incidentals and at regionally competitive price, immediate payment of pending refunds of the industry, and the facility of LTFF to indirect exports for making investment in technology and value addition.
He said foreign exchange earning from exports is the only sustainable solution instead of looking towards IMF or a country specific support.

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