According to Pakistan’s “Business Record” report, Jawed Bilwani, coordinator of the Pakistan High Value-Added Textile Forum, said in an interview a few days ago that the shortage of cotton yarn has affected the ability of Pakistani exporters to fulfill their contracts, resulting in the gradual decline of foreign textile orders. reduction, resulting in a rapid decline in the international textile market share. He said that power cuts, high electricity and natural gas prices, and numerous taxes have made the operating costs of Pakistan’s textile industry higher than those of neighboring countries, seriously weakening its competitiveness.
Bilwani said that the high value-added textile sector generates a large amount of foreign exchange earnings for Pakistan every year and is the industry that employs the largest number of labor forces in the country. While strictly restricting the export of cotton and cotton yarn, the government should refer to China’s 17% export tax rebate policy for textiles and introduce incentive policies and measures to help them get out of the current predicament.
