The Misuse of Export Facilitation Scheme (EFS) Threatens Pakistan’s Textile Sector
Asif Inam, Chairman of APTMA, raised concerns over the misuse of the Export Facilitation Scheme (EFS) in Pakistan, warning that it could lead to the closure of textile mills and widespread unemployment. He urged the government to take immediate action to protect the domestic textile sector from the adverse effects of EFS misuse.
Despite these challenges, Pakistan’s textile exports surged by 29.4% in August 2024, reaching $1.644 billion. APTMA had previously requested a discount on electricity tariffs to address high energy costs hindering export competitiveness. This reduction is crucial to sustaining the industry’s global market share and ensuring its growth.
The textile industry is a vital part of Pakistan’s economy, and addressing issues like EFS misuse and high energy costs is essential for its continued success. With the right interventions, the sector can overcome challenges and thrive in the competitive global market.
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