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APTMA Punjab seeks stimulus plan for reviving textiles
Jun '14
All Pakistan Textile Mills Association (APTMA) Punjab chairman SM Tanveer has urged the government to devise a stimulus plan in order to revive the textile industry in the Punab region to ensure employment as well as to increase exports and investments, reports Business Recorder.

The APTMA Punjab official explained that the textile industry of Punjab has been increasingly becoming unviable to compete domestically as well as internationally, owing to the absence of proper encouragement for development of the sector.

According to Mr. Tanveer, although the energy projects envisioned by the Chief Minister of Punjab Shahbaz Sharif are extremely beneficial for the sector, they are long-term plans, and the Punjab textile industry requires immediate relief.

The disparity in energy supply to industrial units in Punjab has resulted into partial as well as complete shutdown of around 100 textile mills in the region, he added.

Mr. Tanveer said that situations like these were limiting the textile industry of Punjab to avail opportunities under the Generalized System of Preferences Plus (GSP+) status attained from the European Union (EU), and the government must take necessary steps to curb these issues.

Fibre2fashion News Desk - India

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