FTB considering textile exporters exemption from public holidays

FTB mulling exempting textile industry from holidays

On the demand of leading textile industry associations, the Federal Textile Board (FTB) is considering exempting the export-oriented textile sector from the provincial/local holidays. They said the Board was planning to recommend to the provincial governments for exempting the value-added textile industry from holidays in their respective notifications.

The Board has further proposed to the export-oriented textile units that they should only observe holidays notified by the federal government. According to the minutes of a meeting of the Board, available with the Business Recorder, the textile industry associations had sought a reduction in the number of public holidays to bring down the cost of doing business for the export-oriented production units.

The demand was raised in a meeting of the FTB held recently in the Ministry of Textile Industry under the chairmanship of Federal Minister for Commerce/Chairman FTB Khurram Dastgir. Next meeting of the Board is scheduled for August 29 to finalise the decision.

The Association representatives from All Pakistan Textile Mills Association, Pakistan Readymade Garments Manufacturers and Exporters Association, Pakistan Hosiery Manufacturers Association, All Pakistan Textile Processing Mills Association, Pakistan Textile Exporters Association, Pakistan Denim Manufacturers Association, Pakistan Bedwear Exporters Association and others pointed out that they paid all the taxes and banks’ mark-up for the period of holidays despite that majority of the factories either remain closed or operate partially after paying double overtime to the workers.

“The value-added textile industry should be exempted from holidays announced by the provincial governments,” they demanded. The textile exporters stated that public holidays cost the industry with a negative impact on production line while disturbing deadlines to meet the export orders. Moreover, the payment of double overtime triggers the cost of doing business. Meanwhile, the textile industry circles have also expressed concerns over expected about weeklong holidays during the upcoming Eid-ul-Azha. It has become a routine that the holidays prolong throughout a week and no one takes notice of such a carefree attitude when the national economy is in stride, they added.

Copyright Business Recorder, 2016
 

Source button

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

2nd Floor, Suite#1, Leeds Centre, Main Boulevard Road, Lahore, Pakistan

or

Log in with your credentials

Forgot your details?