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Towel exporters expect orders worth $10m at TEXPO 2016

YarnsandFibers News Bureau 2016-04-10 11:00:00 – Karachi

Towel Manufacturers Association of Pakistan Chairman Farrukh Maqbool said that TEXPO-2016 was a successful experiment as Institutions, hotels, hospitals and retailers have shown more interest in home textiles. The towel exporters are expecting fresh export orders worth more than 10 million dollars through TEXPO exhibition.

Towel industry had opted latest technique in production of towels. But due to blockade of huge refunds, the industry was facing financial crunch. Had funds were released to exporters, the export of towel could reach to 2 billion dollars within a year.

Farrukh Maqbool urged the government to immediately formulate mechanism of free trade agreements (FTAs). He also expressed concern on issuance of notices by Sindh Revenue Board for 14 percent sales tax. He hopes that zero rating will be given to industry as announced by Prime Minister Muhammad Nawaz Sharif.

Also Commercial Counselors posted abroad should be given task to achieve the export target in the respective countries.

Non-traditional countries Qatar, Saudi Arabia, Thailand, Middle East and United Arab Emirates (UAE) buyers attending the Texpo exhibition have shown keen interest in placing export orders.

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