Former senior vice president of Karachi Chamber of Commerce and Industry (KCCI) and prominent textile manufacturer and exporter, Mohammad Hanif Lakhani has urged the government to revisit its economic policies because present policies hurt textile industry, adversely. He said that the textile sector was facing very tough competition in international market with its competitors due to high cost of doing business at home. He said that the problems of industrialists were increasing with the passage of everyday and nobody bothered s to sort out it.

"Pakistan is losing its share in the world export markets due to such hurdles," he said, adding that cost of doing business had increased manifold in the last few years and after many promises, refund issue has not yet been resolved.

He further said that if exports' declining trend continued, government would not be able to run the state of affairs smoothly.

"Declining exports are due to high cost of production and increase in the energy costs as compared to our competitive countries and exporters are unable to compete with their competitors," he said.

Lakhani urged the government to reduce power and gas tariff for textile and export-oriented industries.

Copyright Business Recorder, 2017