Sewing machines, spare parts: SBP ordered to disclose import documents – Business & Finance


LAHORE: The State Bank of Pakistan should immediately release the documents related to the import of sewing machines and spare parts so that traders and manufacturers can avoid unnecessary demurrage and postage.

Officials of the Industrial Sewing Machine Association of Pakistan and the Industrial Sewing Machine Association of Lahore made the request on Wednesday during a press conference attended by more than 50 importers and hundreds of traders. .

They said sewing machines and parts are like the backbone of the garment industry, which could shut down millions of factories.

More than 60% of Pakistan’s exports come from the textile industry and if 60% of exports are affected, then the situation in the country will also be affected, they said.

Importers said millions of rupees have already been lost due to the rising price of the dollar. Spare parts are imported, there is no machinery or parts manufacturing factory in Pakistan, even a single needle used in these machines is not made in Pakistan and must be imported.

If the government does not immediately accept our demands, hundreds of factories will be closed and countless families will find themselves out of work because our machines and spare parts are not considered luxury items. Our demands must therefore be granted immediately and Pakistani industry, handicrafts and exports must be saved from destruction, they said.

Copyright Business Recorder, 2022


Comments are closed.