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APTPMA shows concern over levy of FC/TR surcharge

APTPMA shows concern over levy of FC/TR surcharge

FAISALABAD: Regional Chairman All Pakistan Textile Processing Mills Association Shaikh Khalid Habib has said that levy of financing cost and transaction rationalization surcharges will definitely destroy the textile processing industry of the country.

According to a statement he said that due to power crisis foreign investors prefer to sign accords for the sale of textile goods to other countries. He said decrease in export of textile goods will put a negative impact on country’s exports.

He said in the past our textile export figure was stood at 65 per cent but now it comes to 45 per cent. He said that Bangladesh is earning Rs 25 billion from export of textile good, while we are earning on only Rs 12.5 billion through textile exports.

He said all Pakistan Textile Processing Mills strongly reject levy of financing cost and transaction surcharge and appeal to government to withdraw the same. He also appealed to government to decrease 50 percent amount on electricity bills, and build dams to generate more electricity.