ISLAMABAD:
Worth-added textile exporters have flagged upfront taxes, excessive power tariffs and liquidity constraints as main hurdles to export progress throughout a consultative session chaired by Federal Minister for Commerce Jam Kamal Khan.
The assembly, held in hybrid mode on the Ministry of Commerce, was attended by chairmen and representatives of a number of textile associations. The purpose of the dialogue was to totally look at the important thing challenges dealing with the value-added attire and textile sector and devise strategic measures to strengthen international competitiveness and speed up exports.
In response to an official assertion issued on Friday, business representatives outlined the challenges impeding export progress. These included the burden of upfront taxes, elevated power tariffs mixed with infrastructural limitations, liquidity constraints as a consequence of pending refunds, decreased utilisation durations beneath the momentary importation scheme, inadequate credit score limits beneath the Export Finance Scheme and repeated coverage shifts affecting growth plans.
The minister mentioned a devoted technical committee, constituted on the prime minister’s instructions, was reviewing the restricted utilisation interval beneath the Export Facilitation Scheme and would submit suggestions for instant decision. Representatives of Micro, Small and Medium Enterprises urged the State Financial institution of Pakistan and EXIM Financial institution to concern clear tips for uniform acceptance of international grasp Letters of Credit score by industrial banks as collateral for opening back-to-back LCs to enhance working capital entry.
