Textile exporters: PTEA chief identifies rising cost of production as foremost challenge

Rehan Naseem Bharara, newly elected chairman of the Pakistan Textile Exporters Association, told the association's annual general meeting in Faisalabad on Saturday that rising production costs are the biggest problem facing textile exporters. According to Business Recorder, he said higher costs have deterred new investment and held back export growth and industrial turnover. He called on the government to devise and carry out a broad plan to lower production costs and restore competitiveness.

He linked the pressure on exporters to the wider economic slowdown, high production costs, tax burden and elevated energy prices, noting that exports have shown negative growth since the start of the current fiscal year. He said repeated increases in energy and raw material prices have made Pakistani goods less competitive abroad, and urged a redesign of export policies. He warned that measures adding to manufacturers' costs could weaken export expansion and job creation.

Vice Chairman Haris Yousaf called for unity within the sector so that it could speak with one voice, while outgoing chairman Sohail Pasha said the government's move to clear pending refunds would ease liquidity. Pasha described the release of refunds as a positive step for industrial activity. The new leadership has pledged to pursue the long-term competitiveness of the industry.