Country can grab $5bn export orders as West shifts from B'desh: Gohar

Business Aug, 16 2024
Country can grab $5bn export orders as West shifts from B'desh: Gohar
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KARACHI: Dr Ejaz Gohar Patron-in-Chief and Group Leader of All Pakistan Textile Mills Association (APTMA) said Pakistan's textile sector can grab orders worth $ 5 billion in coming days as Western clothing brands shift from Bangladesh. Bangladesh faces massive political uncertainty after departure of Sheikh Hasina days ago, following deadly unrests which engulfed entire country.

However, "Window of opportunity is only two weeks, otherwise, orders will be placed in India, Vietnam, or Cambodia," said Gohar in post on social media platform X. Former caretaker Commerce Minister pointed out that current energy prices and tax structure in Pakistan is unviable for export sector.

"We are not viable at these energy prices of 16 cents and with current taxation rules for export supply chain," he said. "Way forward for government is to decrease energy prices to 9 cents, allow domestic supply chain for exports under SRO 1125 immediately." I

ndustrialist was of view that these steps will enable textile industry to grab these orders, which can create five million jobs and add $ 5 billion in export earnings for Pakistan.

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