Pakistan:Senate body for comprehensive mechanism to develop textile sector

Islamabad—The Senate Standing Committee on Textile Industry on Thursday directed the Ministry of Textile Industry to prepare a comprehensive report on issues and challenges being faced by the domestic textile industry and measures for their rederssal. The committee, which met here with Senator Gul Muhammad Lot in the chair, reviewed the policy of the government regarding export of cotton yarn and mechanism to avoid shortage of the commodity in future.

The meeting also directed the Secretary Textile Industry to convene a meeting of all stakeholders including growers, spinners, ginners and other office bearier of All Pakistan Textile Mills Association (APTMA) to device a proper long and short term mechanism to overcome the issues being faced by the sector.

The meeting asked for taking measures to protect local value added sector and directed the ministry to prepare data about the requirements and supply of raw cotton and cotton yarn for the local industry to avoid any crisis like situation in future. The committee asked the ministry for taking up the issue of levying additional taxes on the Pakistani textile products with Turkish government during the upcoming official visit of the President to Turkey.

The Ministry of Textile Industry was also directed to take up the matter of rebate with Federal Board of Revenue (FBR) who have so far paid only Rs. 1.7 billion out of total Rs. 17 billion. Secretary Textile Industry, Shahid Rasheed informed the committee that there was no intervention of the government and market was performing under free market mechanism.