Latest news with #FawadAnwar
Business Recorder
24-05-2025
- Business
- Business Recorder
PTC says textile sector can add $3–4bn in export earnings
The Pakistan Textile Council (PTC), a not-for-profit research and advocacy platform, says that the industry could immediately contribute $3-4 billion in annual exports, in line with the vision and policies of the federal government, if an enabling environment is provided. The remarks were by PTC Chairman Fawad Anwar during his meeting with Federal Minister for Commerce Jam Kamal Khan. The PTC delegation also included Asif Tata (Chairman, Naveena Group) and CEO Muhammad H. Shafqaat, read a statement released by the Ministry of Commerce on Saturday. PTC says concerned at proposed amendments to EFS The meeting focused on tariff and tax rationalisation, energy pricing, green investments, and other policy interventions needed for competitiveness, sustainability and growth of the textiles and apparel sector. During the meeting, the commerce minister assured the delegation of the government's commitment to supporting the export sectors in the upcoming federal budget. 'We are working towards regional tariff parity,' Jam Kamal stated. The minister informed that a committee, led by Finance Minister Muhammad Aurangzeb, has been constituted to develop a sustainable framework for tariff rationalisation. 'We must strike a balance—reductions will come with time, however, the government is committed to supporting industrial growth,' he noted. Pakistan Textile Council voices concerns over proposed amendments to EFS Specific matters such as the regionally competitive energy tariffs, effective utilisation of the Export Development Fund, and the immediate clearance of claims under government support schemes were discussed. The PTC also recommended the introduction of Green Credit Schemes to help the sector meet international sustainability requirements and scale up the efforts towards industrial decarbonization. The delegation highlighted that much of the industry is already shifting to alternative renewable energy sources such as solar, biomass and wind, and the government support remains vital to maintain momentum. Kamal reiterated the government's resolve to align economic policy with the needs of exporters and underscored the urgency of reforms. 'Let the formal industry grow, invest and spur industrial growth. That's how the economy thrives.'
Business Recorder
25-04-2025
- Business
- Business Recorder
Transporters' strike: PTC writes letter to PM
ISLAMABAD: The Pakistan Textile Council (PTC) has requested Prime Minister of Pakistan, Shehbaz Sharif, for immediate action to address the ongoing transporters' strike that has severely disrupted national trade logistics and industrial supply chains, particularly at Karachi's key ports. In a letter to Prime Minister Shehbaz Sharif, the PTC has raised alarm over the escalating impact of the strike, which has halted cargo movement at Karachi Port, Port Qasim, and associated terminals. The disruption has resulted in over 10,000 daily cargo movements being suspended, creating severe congestion at ports and interrupting the flow of raw materials and export consignments. The letter cites reports of unlawful interference by elements of the Transporters' Union, including harassment of truck drivers, forced removal of gate passes, and vandalism of vehicles. This lawlessness, according to PTC, has created an atmosphere of insecurity and has compromised constitutionally protected commercial activity. 'This is not just a logistics crisis — it's a national trade emergency,' said Fawad Anwar, Chairman of the Pakistan Textile Council. 'The PTC member companies have high-value export consignments at risk of default, and containers of imported materials stranded at ports. The financial and reputational losses could be catastrophic if swift action is not taken.' The Council, whose membership represents around 30% of Pakistan's textile exports, has urged the Prime Minister to direct provincial authorities, law enforcement agencies, port authorities, and the Ministry of Maritime Affairs to take immediate steps to: (i) restore order and provide security for lawful transport operations; (ii) coordinate with industry and inter-agency forums to resolve the deadlock; and (iii) ensure uninterrupted functioning of national logistics and port activities. The PTC reiterated its readiness to work closely with government authorities to support the restoration of order and ensure continuity in Pakistan's export performance, especially at a time when global market competitiveness is already under pressure. Copyright Business Recorder, 2025
