Dr. Yasmin Raashid advisor to PTI Chairman said due to flawed and failed textile policy of Sharif Brothers the country???s textile industry is going through the worst patch in its history. Nobody knows what happened with the relief package, which Finance Minister Ishaq Dar was expected to announce for textile industry by the end of September 2015 she added. She said textile industry has been demanding for the withdrawal of electricity surcharge; removal of gas infrastructure development cess (GIDC) and zero rating of local taxes on textile exports. Instead of any relief package and withdrawal of taxes from textile industry Ishaq Dar is ready to impose 40 billion extra taxes on the behest of IMF she added. She said it is imperative that PML-N government resolves the issues of textile industry, which contribute 50 percent of country???s total exports, on an immediate basis, If PML-N government goal is to generate foreign exchange reserves from exports, rather than borrowing from IMF as has been the trend since Sharif Brothers took over power she added. She said it is ironic that Sharif Brothers??? promises for economic turnaround have vanished in thin air. We are witnessing worst economic performance in every sector be it industry or agriculture as every thing is on its downward spiral she added.
PTI Information Secretary Andleeb Abbas said what else could be accepted from PML-N incompetent lot that miserably failed in utilizing the advantages of GSP Plus status. Pakistan got the GSP Plus facility in December 2013 that allowed it to export its products to the Europe Union on reduced or zero duty she added. She said unfortunately Ishaq Dar has become yes man of IMF as he blindly follows what IMF says. The IMF has opposed any special package to the textile sector, which has grave implications on revenue as well as expenditure she added. She said due to ill planning of Ishaq Dar, Pakistan is heading towards economic disaster; we cannot survive on IMF loans when the industries would be closed down and he should then forget that he will achieve ambitious 5.5 growth rate. Look at Bangladesh, which by importing yarn and fabrics from Pakistan and other countries, has increased the export volume of textiles made ups and has become a haven for textile industry she added. She said textile industry provides employment to 38 percent of the workforce in the country. Who would feed millions of workers who are going to lose their jobs as the result of shut down of industry she questioned? She said if government takes appropriate remedial measures focused on raising textile exports rather than by disincentivizing the industry then the industry can be revived in few years. Sharif Brothers need to think for the textile industry rather than their own businesses she added.