The All Pakistan Textile Mills Association (APTMA) spokesman has said that being the premier textile industry association representing members from corporate sector and manufacturing and export of textile and clothing products. APTMA members contribute more than 50 percent to the country’s exports, i.e. over $11 billion out total annual exports of $23 billion as on 2017-18.
He claimed that the textile industry has a potential of adding another $24 billion to the exports on a fast track subject to provision of enabling environment.
APTMA spokesman stressed that the burgeoning gap of trade deficit can only be met through devising an export-led growth policy. Therefore, those advocating for the support of domestic industry are not well wishers of the country as well as the government, as restoration of competitiveness of export-led industry is a must to regain the lost share in the international marketplace.
Already, the anti-export approach had witnessed decline of country’s exports from $35 billion to $20 billion as on 2016-17. Unfortunately, certain vested interest elements have started campaign against the exporting industry, generating foreign exchange, direct and indirect employment besides backward and forward linkages.
Domestic industry can absorb the economic stringencies, but not the exporting industry which competes with international competitors, he added.
Furthermore, he urged the government to steer the economy out of woods with an active participation of industry associations in order to set the priorities.