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NBP willing to invest in textile

export industry

Mr Arif Usmani, NBP President said that NBP is ready to invest in the textile industry. He said that exporters
are invaluable assets of the country. He said economic development will be more fruitful with the
cooperation of exporters as well as enterprises.

Mr Khurram Mukhtar, PTEA Chairman, welcomed NBP President and said that the counter terrorism and
extremism war has negatively impacted the textile industry. However, the condition is gradually improving.
Mr Mukhtar, highlighting the key initiatives said that the govt. has released funds of Rs 35bn in the existing
fiscal year and another Rs 12bn have also been released. The disbursement will start by the end of May,
2019 by SBP.

Special energy tariffs for zero rated sectors have been announced to cut down the production cost of
exports. The chairman further added, “The government would set a roadmap to generate robust economic
activity, increase exports to $30bn and fulfil the premier’s vision of economic prosperity through exports.”

NCTO demands inclusion of

finished textile items in

retaliatory list

A quick and transparent exclusion process has been urged by NCTO to raise tariff on Chinese imports
worth $200 billion from 10pc to 25pc, including textile items as well as apparel in the list of retaliatory tariff.

Mr Kim Glas, NCTO president and CEO said, “We remain very concerned that finished Chinese textile
home furnishings and apparel are not on the administration’s retaliatory tariff list. Chinese imports of
finished goods into the U.S. market have the most significant impact on domestic textile and apparel
production, investment and jobs. In order to address the crisis, we need to get to the very
heart of the problem.”
According to U.S. government data, China predominantly ships end items to the U.S. versus intermediate
inputs. Finished apparel, textile home furnishings and other made-up textile goods equate to 93.5 percent
of U.S. imports from China in the sector, while fiber, yarn, and fabric imports from China
represent only 6.5 percent.
He said, “NCTO also remains seriously concerned that some inputs critical to the competitiveness of US
textile manufacturers remain on the retaliation list and will now face a 25 per cent tariff. Duty increases on
inputs alone, without addressing the growing problem of end products can raise the cost of US textile
manufacturers trying to compete with like Chinese products.”

May/June 2019