STPF disappoints textile industry

LAHORE – “The entire document of the Strategic Trade Policy Framework (STPF) 2015-18 does not contain a single word for Textile Industry, which constitutes more than 57 percent of the country’s exports, people relating to the industry said on Tuesday. “How the government can achieve a target of $35 billion exports, under the framework without addressing the issues confronting the textile industry,” they questioned.
They said the competitiveness issues of the textile industry were yet to be addressed, including removal of incidentals of taxes on exports, DLTL, product focus market schemes, export refinance, payment of stuck up refunds, availability of all types of raw materials, cotton and manmade fiber at international competitive prices and cotton research through public private partnership.
All Pakistan Textile Mills Association (APTMA) Chairman Tariq Saud said the Association had often been suggesting the solutions with the objective to double the exports and attract new investment to the sector.
“But still, neither the STPF 2015-18 nor the Textile Policy for 2014-19 has hardly introduced any incentive to achieve these objectives,” he lamented.“Achieving the export target of $35 billion without these measures would be impossible,” Tariq said categorically.Giving a recipe for increasing the exports, he called for saving the domestic textile industry from the invasion of subsidised textile products.
Tariq said 15 percent regulatory duty should immediately be imposed on synthetic yarns and fabrics meant for domestic consumption.
The Association chairman urged the government to address the textile industry issues at the earliest, enabling it to undertake new investment initiatives so that it could produce export material in surplus amounts, and hence the export targets under the STPF could be achieved.

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