PAKISTAN: Textile sector was expecting Rs 100 billion from federal budget

KARACHI: The textile industry was expecting Rs 100 billion relief package from the federal budget 2007-08. But the allocation made by the government has failed to boost industrial growth and exports.

The budget is a populist one as it tends to win support among common people ahead of general elections.

The government has announced reduction in prices of essential edibles and increased the salaries of unskilled labour.

The Industry feels that giving relief to common man is OK but for this the government must first generate revenues for that relief.

Pakistan has missed its export target this year. The increase in government's revenue is directly linked to industrial production. The government has increased the minimum wages and this may lead to inflation.

The increase in wages will further bring down the competitiveness of the textile manufacturers and if they can procure the raw material at a lower cost then only the wage hike can be justified.

The government should atlease use export refinancing facility.

The government has plans to open 5,000 more utility stores but the traders doubt this as the same announcement was done in last budget but the government failed to keep its promise.

The 15 percent increase in salaries of public servants also holds the potential to fuel inflation.

The government should cut down its expenditures which has only been rising over the last few years.”

Send your News/Releases for publication to [email protected]
Added: June 11, 2007 Source: Agencies
Start script - 1547902092.2674 Start news id check - 1547902092.2675 After news id check - 1547902092.2679 After cookie_code - 1547902093.8188 Before news detail - 1547902093.8188 After news detail - 1547902093.8194 Start cat select - 1547902093.8195 After cat select - 1547902093.8197 before preg replace - 1547902093.8198 After preg replace - 1547902093.8198 Before tag engine - 1547902093.8198 After tag engine - 1547902093.8253 Before mptt engine - 1547902093.8253 After mptt engine - 1547902093.8253 Before related engine - 1547902093.8253 After related engine - 1547902093.8256 Before update hits - 1547902093.8257 After update hits - 1547902093.8259 After update news_hits - 1547902093.8301 After mem_only_views - 1547902093.8301 -------------------------------------------------- Total Exec time:- 1.5627000331879
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2019. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 19-01-2019