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An immediate industry revival package needed - APTMA
01 Mar '12
2 min read
All Pakistan Textile Mills Association (APTMA) has urged the government to come to the rescue of textile industry through a revival package including uninterrupted energy supply and restructuring of outstanding loans to save the industry from total collapse.
In a hurriedly called press conference on Wednesday, Group Leader APTMA Gohar Ejaz, Chairman APTMA Punjab Ahsan Bashir and Vice Chairman APTMA Seth Akber told the media that the adverse impact of gas supply suspension for 172 days during last calendar year and 52 days closure during first two months of current year can be judged from the fact that textile exports have declined by 40% in quantity during first half of current fiscal, translating into $4 billion export loss, and industry NPLs/infection ratio has reached up to 31.5% as of September 2011, which is apprehended to touch 50% by end March, if not taken by the government seriously.
Chairman APTMA Punjab said the SNGPL has supplied gas to textile industry for merely eight days during sixty days of first two months of current calendar year. The desperate textile millers have started contacting the Association for sale of their units, as they were not able to operate 365/7 due to non-supply of energy, thus unable to generate cash to pay back to the banks.
He said the SNGPL has not displayed change of gas load management plan despite reduction in mercury by 10C with the start of March.
He said the APTMA members questioning about the availability of saved gas with improvement in weather conditions. The policymakers, economic managers and SNGPL officials should be prudent in prioritizing gas supply to the industry generating billions of dollars exports and 15 million jobs.
Gohar Ejaz urged the textile minister to take stock of the situation and get it declare as calamity hit before the premier industry of the country turns into a junkyard. He said an immediate industry revival package was need of the hour to avoid rising number of sick units. He said the industry was unable to perform as it was not being allowed to operate 24/7 due to energy supply and financial constraints.
He said the situation would lead to lawlessness and the government should take APTMA voice as a wake-up call, as election year cannot be attributed simply to domestic consumers but also to economic sanctity of the country.
In a hurriedly called press conference on Wednesday, Group Leader APTMA Gohar Ejaz, Chairman APTMA Punjab Ahsan Bashir and Vice Chairman APTMA Seth Akber told the media that the adverse impact of gas supply suspension for 172 days during last calendar year and 52 days closure during first two months of current year can be judged from the fact that textile exports have declined by 40% in quantity during first half of current fiscal, translating into $4 billion export loss, and industry NPLs/infection ratio has reached up to 31.5% as of September 2011, which is apprehended to touch 50% by end March, if not taken by the government seriously.
Chairman APTMA Punjab said the SNGPL has supplied gas to textile industry for merely eight days during sixty days of first two months of current calendar year. The desperate textile millers have started contacting the Association for sale of their units, as they were not able to operate 365/7 due to non-supply of energy, thus unable to generate cash to pay back to the banks.
He said the SNGPL has not displayed change of gas load management plan despite reduction in mercury by 10C with the start of March.
He said the APTMA members questioning about the availability of saved gas with improvement in weather conditions. The policymakers, economic managers and SNGPL officials should be prudent in prioritizing gas supply to the industry generating billions of dollars exports and 15 million jobs.
Gohar Ejaz urged the textile minister to take stock of the situation and get it declare as calamity hit before the premier industry of the country turns into a junkyard. He said an immediate industry revival package was need of the hour to avoid rising number of sick units. He said the industry was unable to perform as it was not being allowed to operate 24/7 due to energy supply and financial constraints.
He said the situation would lead to lawlessness and the government should take APTMA voice as a wake-up call, as election year cannot be attributed simply to domestic consumers but also to economic sanctity of the country.
All Pakistan Textile Mills Association
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