2nd Meeting of the reconstituted Federal Textiles Board
2nd Meeting of the reconstituted Federal Textiles Board (FTB) under the Chairmanship of Federal Minister for Commerce, Engineer Khurram Dastagir Khan was held on 24.08.2015 (Monday) at 4:00 p.m in the Committee room of Ministry of Textiles Industry, Islamabad to discuss the implementation status of Textiles Policy 2014-19, issues of the textile sector and measure to arrest declining textile exports. The meeting was attended by representatives of Ministry of Industries, National Food Security & Research, Finance Division and textiles associations’ namely, All Pakistan Textile Mills Association (APTMA), All Pakistan Textile Procession Mills Association (ATPMA), Pakistan Hosiery Manufacturer Association (PHMA), Pakistan Readymade Garment Manufacturer and Exporter Association (PRGMEA), Pakistan Textile Exporter Association (PTEA), Pakistan Bedwear Exporter Association (PBEA), Pakistan Carpet Manufacturer and Exporter Association etc.
2. At the inception of meeting the Federal Secretary Textile Industry Mr. Amir Muhammad Khan Marwat gave detailed briefing in the context of local, regional and global scenario.
3. The Minister for Commerce/Chairman FTB welcomed the participant and said that textile sector has a share of 55% in exports and one of the major source in generating employment. The sector requires level playing field to fully utilize its potential to double the exports. The Secretary, Ministry of Textile Industry made comprehensive briefing to the participants and highlighted the export performance in terms of quantities and values. He also briefed on SWOT analysis of the domestic textile sector vis-à-vis competitor countries.
4. The representatives of textile associations said that cost of doing business is rendering Pakistan textile products uncompetitive in the international market, the major factors are power cost and shortages, stuck-up refund claims with Federal Board of Revenue and slowing down economics of China and European Union. Further, the export of raw materials and semi-finished products is one of the major issue being faced by Pakistan’s textiles sector. The associations demanded that Long tems Financing Facility may also be extended to the spinning sector, drawbacks may be given on entire exports and sales tax on import of machinery may be made zero.
5. The representative of the Ministry informed the meeting about the progress of Technology Up-gradation Fund(TUF) under Textiles Policy 2009-14 and 2014-19, and incremental DLTL under Textiles Policy 2014-19, further, for ease of doing business, the textile Ministry is in process of developing a single Act to replace various cess/surcharges under this Ministry.
6. The Board considered number of initiatives to promote textiles sector and textiles exports. The Minister in his closing remarks assured the participants that Government is aware of the facts and entire economic Ministries are working hard to resolve the issues pertaining to textile sector. The textile association welcomed the efforts of Ministry and specially thanked the support extend by Minister for Commerce/Chairman Federal Textile Board.