Karachi. 14.10.2015: Pakistan People’s Party (PPP) Sindh chapter General Secretary Senator Taj Haider has demanded that the Government should pay immediate attention towards the current crisis in the textile sector and honour its commitments to the industries made at the highest levels. The current crisis was resulting in very serious further decline in exports and national production and widespread unemployment of the workers.
High deficits both in the Federal Budget and balance of payment can only be reduced can only be reduced by increasing economic activity and trade and not by increasing taxes on inputs and increasing the cost of production. The government is covering up its so called ‘good governance’ and miserable performance of the FBR by increasing taxes on inputs, he said.
Senator Haider pointed out that during the Peoples Government, the international oil prices had jumped manifold resulting in highly increased cost of electricity generation. Even then our exports had registered a phenomenal rise and had surpassed 25 billion dollars.
It is shocking to see that while the international prices have hit the lowest ever levels, industry is being charged 3 times the actual cost as fuel price adjustments in their electricity bills. One shudders to think what would happen if the international prices start moving up once again, he regretted.
Seeking foreign loans and taking credit for borrowings is no substitute for hard earned foreign exchange earned through genuine exports. Import bill for importing oil has going down, however, this rare advantage is being nullified because of the alarming drop in our exports, he warned, adding that any change in GIDC can only take place after the consent of the provinces in the Council of Common Interest. The increase in GIDC which is crippling the industry is outright unconstitutional.
Senator Taj Haider demanded that corrective measures should urgently be taken otherwise there is a danger of permanently losing our markets.