MM News

KARACHI: Value-added textile exporters criticized the coalition government of Pakistan Democratic Movement (PDM) on Monday for allowing the import of “luxury BMW vehicles” for cabinet members amid the economic crisis, saying that the lack of attention from the government had led to a catastrophe for the export sector.

The incumbent government lacks a clear direction, and its “casual” conduct has brought a disaster to the industrial sector and sabotaged exports, value-added textile exporters told a joint press conference held at PHMA House.

Those spoke at the event included: Muhammad Jawed Bilwani, Coordinator Value-Added Textile Forum, Muhammad Babar Khan, Chairman Pakistan Hosiery Manufacturers & Exporters Association, Khizer Mehboob, Zonal Chairman PHMA, Rafiq Godil, Chairman, Pakistan Knitwear and Sweater Exporters Association, Abdul Samad, Former Chairman, Pakistan Cloth Merchants Association and others.

They claimed that the international purchasers’ hesitation to put orders with local textile manufacturers caused the financial crisis for exporters to outgrow.

They criticized the government for buying pricey, opulent BMW vehicles for its cabinet members amid severe economic crisis, claiming that these politicians don’t contribute to the expansion of the national exchequer, foreign exchange, or employment creation.

On the other hand, they said, textile export industries are denied LCs of $5000 to import raw materials and accessories for manufacturing purposes. Resultantly, the blocking of LCs wreaked havoc on the export sector, causing a severe disruption and delays in completion of foreign orders. They feared the government’s continuing policy of blocking LCs may lead to the cancellation of international orders.

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The industry is on the verge of a closure, they warned adding that many manufacturing units have already ceased operations with several others are planning a closedown. They said that many manufacturing companies are considering relocating their units abroad.

The continuing economic crisis, unresolved problems and issues have made industries go for seven million layoffs of its workforce of which four million are in textile sector, they said. They blamed the government for the possible divestment and unemployment. The country’s overall exports are faced with a steep decline, which they projected to further slump to the lowest levels with foreign reserves to the “extreme dangerous levels”.

They called the government’s economic governance “very poor” in its first nine months, saying that two federal finance ministers were appointed to help underpin the ailing economy but both failed. They said that the prime minister and the finance minister or any other concerned cabinet members have no time to meet with exporters to hear their problems.

The exporters also slammed the government for costly advertisements in media, saying that such a stunt will serve no good to the nation rather a political mileage to the present rule.