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

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search