Last two years had been nightmare for the cotton spinners in Pakistan. Lower-than-expected cotton production and disproportionate growth in the manufacturing cost have played havoc on them.
All Pakistan Textile Association (APTA) has been striving and struggling for the betterment, promotion and protection of interest of textile industry. Association has, hence, written a letter to Muhammadmian Soomro, Prime Minister of Pakistan highlighting the factors adversely affecting this sector.
In an exclusive interview with Fibre2fashion, Mr Adil Mehmood, Chairman of the APTA, said, “We demanded that Government should allocate at least 5 percent monetary support for Research and Development. Banks have raised mark-up rate to 14 percent, which should be brought down to 7.5 percent. Gas prices have increased by 38 percent in two years, creating disturbances in the production cost. About 50 percent discount on utility bills such as electricity and gas will reduce spinner's problem to some extent.”
Talking about the fierce competition from the neighbouring countries, Mr Adil said that Governments in India, China and Bangladesh have provided subsidies to their textile industry, which is a tough challenge to the country. He stressed, "But, Pakistan Government has not yet planned for any such incentives. APTA have made request from our side. We have given copy of the notification to the Government and asked for same kind of subsidy what these three countries are getting."
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
