Interviews
PRGMEA Chairman's concern over APTMA statement
08 Sep '11
3 min read
Chairman Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) Ijaz A. Khokhar has criticized APTMA for using the name of apparel industry to avail financial support from government on account of $14 billion exports.
He said asking for 5% refund against Rs400 billion outstanding loans of textile industry is 'unfair', as 95% of the loans are those of spinning and weaving industry, leaving the apparel industry with a very small share in total outstanding financial liability. Further, he said, it is not spinning and weaving industry but the apparel and value added textile industry having contributed largely to the $14 billion exports.
According to him, the APTMA is using value added textile industries shoulder for loan adjustment of spinning and weaving mills, which is against the facts.
PRGMEA chairman said he want to put the record straight that the apparel industry has no such demand of financial support simply to fulfill the objectives of APTMA. He said APTMA has been twisting the facts time and again for serving personal interests in the past as well. He said APTMA had manipulated the situation at the time of banning export of cotton and cotton yarn by asking for free market mechanism. The spokesman said that in a situation when the apparel industry was being denied free market mechanism in Europe and the USA against regional competitors, APTMA influenced President Asif Ali Zardari for the same that caused huge losses to the apparel industry in 2009-2010, 2010-2011
APTMA is again trying to influence the government by stating that Rs 400 billion of textile industry is likely to turn into NPLs, which is not a true statement. Instead, he said, only spinning and weaving industry is in trouble for their huge loans but APTMA is giving an impression that the whole textile industry, including apparel, is in trouble due to loans.
He said APTMA should avoid such unfair practices for personal advantages and stop deceiving the government again and again.
He said APTMA should ask for release of rebate, customs drawback and sales tax refunds of apparel industry if it is serious in supporting apparel industry truly. He said he should also pressurize government for payment of stuck up Rs 23.42 billion of apparel industry under the head of Duty Drawback of Local Taxes & Levies (DLTL) Scheme.
He said the woven garment exports have registered about 40 percent growth during 2010-11, while doubling the average unit price, excessively utilizing expensive fabrics in different weights and employing 30 percent of total 3.5 million workforce of textile industry value chain.
He said asking for 5% refund against Rs400 billion outstanding loans of textile industry is 'unfair', as 95% of the loans are those of spinning and weaving industry, leaving the apparel industry with a very small share in total outstanding financial liability. Further, he said, it is not spinning and weaving industry but the apparel and value added textile industry having contributed largely to the $14 billion exports.
According to him, the APTMA is using value added textile industries shoulder for loan adjustment of spinning and weaving mills, which is against the facts.
PRGMEA chairman said he want to put the record straight that the apparel industry has no such demand of financial support simply to fulfill the objectives of APTMA. He said APTMA has been twisting the facts time and again for serving personal interests in the past as well. He said APTMA had manipulated the situation at the time of banning export of cotton and cotton yarn by asking for free market mechanism. The spokesman said that in a situation when the apparel industry was being denied free market mechanism in Europe and the USA against regional competitors, APTMA influenced President Asif Ali Zardari for the same that caused huge losses to the apparel industry in 2009-2010, 2010-2011
APTMA is again trying to influence the government by stating that Rs 400 billion of textile industry is likely to turn into NPLs, which is not a true statement. Instead, he said, only spinning and weaving industry is in trouble for their huge loans but APTMA is giving an impression that the whole textile industry, including apparel, is in trouble due to loans.
He said APTMA should avoid such unfair practices for personal advantages and stop deceiving the government again and again.
He said APTMA should ask for release of rebate, customs drawback and sales tax refunds of apparel industry if it is serious in supporting apparel industry truly. He said he should also pressurize government for payment of stuck up Rs 23.42 billion of apparel industry under the head of Duty Drawback of Local Taxes & Levies (DLTL) Scheme.
He said the woven garment exports have registered about 40 percent growth during 2010-11, while doubling the average unit price, excessively utilizing expensive fabrics in different weights and employing 30 percent of total 3.5 million workforce of textile industry value chain.
Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA)
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Ritesh Dodhia
Dodhia Synthetics Limited
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