Pakistan Textile Sector Seeks Subsidies To Boost Exports

Exporters from the Pakistani textile industry are seeking subsides and incentives to boost the prospects of the exports industry, which is reeling under a slowdown.

These incentives include preferential cost-based electricity tariff, deferral of principal and interest payments on loans and restoration of a no-sales tax payment scheme.

The industry also proposed priority allocation of gas to exporters and banks to enhance financing credit limits by 100 percent.

Among various incentives, Pakistan textile exporters also proposed immediate settlement of Rs. 24 billion duty drawback claims of the textile exporters.

Pakistani textile and garment exports declined 14.63 percent year on year in fiscal ending June 30, 2023 to $16.501 billion.