Haroon, FCCI discuss rising industrial costs

Business Recorder reported that Federal Minister for Industries and Production Haroon Akhtar Khan met textile exporters at the Faisalabad Chamber of Commerce & Industry (FCCI) on rising costs and export challenges. Industry representatives from the Pakistan Hosiery Manufacturers & Exporters Association (PHMA) said Pakistan's missions overseas, including commercial counsellors, could do more to connect exporters with foreign buyers, though some matters take up to three months. They urged the government to make those missions more responsive and to build a business-friendly environment for exporters.

Syed Zia Alamdar Hussain, central chairman of PHMA, said input costs had risen sharply over four years. Electricity prices rose about 70 per cent and gas prices about 100 per cent, while wage, social security and EOBI costs rose roughly 48 per cent. Meanwhile the US dollar fell from around Rs315 to about Rs277, reducing export earnings in rupees. He also sought DLTL support of 6 to 8 per cent for the value added textile sector, which has gone without it for several years.

Kashif Zia described a plan for direct freighter flights linking Lahore and Karachi with Europe for Inditex, a major global retailer. Currently this cargo is routed via Doha on Qatar Airways or Dubai on Emirates, then trucked onward. Zia said audits of the relevant airports against EU standards are complete, results are awaited, and a favourable outcome could cut transit times.