‘Textile sector collapsing due to incompetent export managers’ [The Nation] 17 Jul, 2017

ISLAMABAD - Islamabad Chamber of Small Traders (ICST) on Sunday said textile sector is slowly collapsing and the government should take note of the plight of this sector.

ICST Patron Shahid Rasheed Butt said that weak trade diplomacy and semi-educated export managers proved to be a double whammy for the export sector which was already reeling under various problems. Failed trade diplomacy is one of the reasons behind dwindling exports which has forced the government to borrow from international lenders repeatedly to save the country from default, he added.

He said that fundamental changes should be introduced in the export sector otherwise the government will have no option to borrow to keep forex reserves within respectable limits. Textile sector is going down due to incompetent export managers who were appointed on political considerations, he added. Butt said that exports of the other countries are going well but local authorities get comfort in blaming the global recession.

He said that Rs14 billion textile sector holds 57 percent share in exports, 46 percent in manufacturing, 38 percent in labour and nine percent share in GDP which was left at the mercy of the incompetent officials who prefer to spend most of their time abroad. He said that textile sector continues to await refund claims worth billion of rupees which have compromised its ability which is a great threat to 3.5 million people linked to it.

 

 

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