Home / Knowledge / News / Textiles / APTMA to discuss way forward for textile sector with govt
APTMA to discuss way forward for textile sector with govt
12
Jul '12
A high-powered 16-member delegation of All Pakistan Textile Mills Association (APTMA) will call on Prime Minister Raja Pervez Ashraf to present him way forward of textile industry.

Mohsin Aziz, Chairman APTMA, along with Gohar Ejaz, Group Leader APTMA, Seth Akbar, Vice Chairman, Tariq Saud, Vice Chairman, Ahsan Bashir, Chairman APTMA Punjab, Shahzad Ali Khan, Convener Energy Committee and Zonal Chairmen and Vice Chairman will brief the Prime Minister about fast eroding competitiveness of textile industry in the region due to short supplies of electricity and gas.

APTMA spokesman said the delegation would apprise the Premier of the fact that both the investment and industry viability are at stake in the absence of an immediate BMR worth US$5 billion in next three years to maintain $15 billion production capacity.

He said the APTMA delegation would also urge upon the Prime Minister to direct the State Bank of Pakistan (SBP) for industry-specific interventions, including regionally competitive interest rate, to generate growth and employment in the country. The loans of textile industry have touched to the lowest level of seven percent of Rs7 trillion, amounting to Rs500 billion mainly due to energy crisis.

The NPLs are set to reach 50% of the total loans and industry is unable to perform on 12% interest rate and 7% bank spread in a situation when 40% capacity is down due to energy shortage. He said India is offering loans to its industry on 3.5%, which is needed to be followed in Pakistan.

The APTMA delegation would also discuss the imposition of Rs100 per BTU and Gas Infrastructure Development Surcharge on industry, thus enforcing a tax of Rs24 billion per annum. He said the industry would only consider paying this surcharge on such an exorbitant rate once the mechanism for the expeditious implementation of infrastructural projects.

Also, he said, it should be escrow account for specific utilization. H said the APTMA way forward consists of offering partnership under Public Private Partnership (PPP) model for erecting LNG terminal without seeking any sovereign guarantee from the government.

Besides, a submission will also be made to the prime minister to ensure expeditious implementation of the surcharge of Rs24 billion collected under the development of gas infrastructure in country, including LNG, IP, and TAPI gas import projects, he added.

He said it is high time to attract investment to the export-oriented industry to overcome 40 percent decline in textile exports in quantity terms and revival of sick units in the country.

He added that APTMA would also demand exemption from load shedding for textile industry on independent feeders and winter strategy for textile industry on gas allocation.

APTMA would also raise concerns over imminent floods ahead and urge upon the government to introduce Crop Insurance Scheme for farmers, as a proposal is already put forward by APTMA in this regard.

APTMA spokesman said Ministers for Textile Industry, Water & Power, Petroleum & Natural Resources and Finance would also be present in the meeting.

All Pakistan Textile Mills Association (APTMA)


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search