APTMA urges govt to improve liquidity of textile industry

12 Jun '17

2 min read

All Pakistan Textile Mills Association (APTMA) has urged the Pakistan government to improve liquidity of the textile industry by releasing the pending benefits by August 14, 2017. Around 60 per cent of the country's foreign exchange is earned through the exports of the items related to the textiles, said the vice chairman of APTMA, Zahid Mazhar.

In order to revive the production of cotton crop in the country, the government should ensure that there is easy availability of raw materials without duty and sales tax on the import of cotton, said Mazhar in a statement. For the development of the textile industry, he has requested the government to review its verdict to re-impose custom duty while importing cotton.

"Our annual requirement of cotton is 15 million bales whereas we have produced around 10 million bales each in the last two seasons. If proper attention is given then the crop size can even reach 20 million bales which can give a boost to the textile industry and the economy of the country," said Mazhar, adding that cotton production can be increasing by spending on research and identifying the country's cotton requirement.

Further, appeals have also been made for implementation of the incentives under the Rs 180 billion export-led growth package for the textile industry at the earliest. The package was announced by prime minister Nawaz Sharif in January this year. (RR)

Fibre2Fashion News Desk – India

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