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Buyers and exporters are reluctant for new orders as there is uncertainty about the cost of the products.

Chairman Pakistan Knitwear and Sweater Exporters Association Rafiq Godil said that during FY2017-18, exports of the value-added textile sector were $12.06 billion while exports of textile raw materials were $1.46bn. Due to uncertainty and recurring fluctuations rupee-dollar parity, both buyers and exporters are reluctant for new orders as there is uncertainty about the cost of the products, said Chairman Towel Manufacturers Association, Farrukh Maqbool. "If the devaluation of the currency is indeed necessary then why are the stakeholders not kept in the loop," he questioned.

According to exporters, on one hand, the government wants to enhance exports while on the other hand concrete measures have not been taken to control rupee depreciation. The exporters demanded that the government immediately call the stakeholders to devise a joint strategy to control the current situation in the currency market.

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Publication:Pakistan Textile Journal
Geographic Code:9PAKI
Date:Jun 30, 2019
Words:168
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