Pakistan Textile Exporters Association (PTEA) has expressed grave concern over 354.5 million dollars' decline in national exports and decline of 800 million dollars in textile exports in last four months.

This was expressed by Rana Arif Tauseef, Chairman Pakistan Textile Exporters Association addressing a hurriedly called press conference from the platform of All Punjab Textile Associations Council here on Sunday.
Addressing, Rana Arif said that slow poisoning of national economy is being precipitated due to the non-serious attitude of the Government as overall exports of the country are heading towards total collapse after visible decline in textile exports.

He said that textile was once mainstay of the national economy which was experiencing continuous decline particularly during last four months.

He mentioned the energy crisis and said that hot season has started but still gas is available only for two days in a week.

Similarly electricity tariff has been increased up to 40% but still the menace of load shedding is plaguing the industrial sectors.

He further said that textile exporters were pinpointing the root causes of industrial decline with repeated requests for necessary remedial steps, but government remained mum and no proper strategy was carved out to save textile sector from the crisis.

He said that 40% industry has been closed while the remaining is running with 80% capacity.

He said that during last four months decline of 800 million dollars in textile exports have been recorded and now its fall out impact has been hitting the overall exports which may lead the country towards economic bankruptcy.

He also quoted statistics of last five years and said that during the month of January record decline of 354.5 million dollars have been registered that is an alarm for the economic managers of the country.

He warned that this situation would spur inflation and unending vicious circle of getting loan to pay the loan from IMF with unbearable conditions.

He said that this situation would add unbearable burden on economy and make the life of common man miserable.

He said that government has no finances to meet its expenditure and it was in this respect that it was forced to present National Federal Budget in the month of May instead of June.
Responding to another question Rana Arif said that textile exporters had been forewarning the government about the fast looming crisis but no steps has so far been taken to ratify the situation.

Government failed to understand the gravity of the situation despite our protestation, strikes and sit-ins and now they are highly disappointed with the Government attitude.

He further said that various tax collecting agencies and departments are out to harass the industrialists in their bid to extort maximum money from them.

He said the textile council in consultation with its member Association was busy to finalise a new strategy to nail down these departments.

He said that this strategy would be announced very soon.
He appreciated the Government decision to give status of MFN to India but said that before giving this status the Pakistan Government should provide equal opportunities to domestic industrialists so that they could compete with them on equal footings.

He hoped that Government would pay a serious thought to save forex earning sector before it is too late.