Exporters send SOS amid dearth of fresh orders

Exporters fear more declines as the textile sector, which accounts for over 60 per cent of the country’s overall export earnings, is not getting fresh orders while India is aggressively lobbying for GSP+ status which could replace Pakistan in the European market. “We are not getting new orders for exports. We are working on orders in the pipeline which means the coming months will see a sharp decline in overall exports,” warned Jawed Bilwani, Vice-Chairman of Businessmen Group and a leading textile exporter. He said textile exports declined by 14 per cent in FY23, which means an identical decline in production, jobs, and allied industries. “There are growing fears about the discontinuation of the Export Refinance Scheme after a Stand-By Arrangement reached with the IMF as the government is trying to abolish the subsidised financing for the export sector,” he deplored.