Home / Knowledge / News / Textiles / APTMA to voluntarily shut mills to cut losses
APTMA to voluntarily shut mills to cut losses
29
Jun '15
The All Pakistan Textile Mills Association (Aptma) has decided to ‘voluntarily’ close down the textile industry because of the losses it had been suffering, its chairman S M Tanveer said on June 28, according to the Pakistani media.

“An emergency meeting of Aptma’s general body has deliberated on the adverse circumstances and found it unfeasible to incur losses by operating mills partially,” Tanveer said in a statement.

Tanveer said the member mills have decided on their own to put their operations off voluntarily because of the viability issue. “We do not want confrontation with the government therefore we are closing down mills voluntarily,” he said.

According to the Aptma chairman, the cost of doing business in the textile sector has gone through the roof and the burden of incidental taxes, provincial cess, system inefficiencies and the punitive withholding tax regime have added fuel to the fire.

Tanveer said the owners of mills in Khyber Pakhtunkhwa, Lahore, Faisalabad, Multan and Karachi had decided to close down operations and lay off millions of workers because they had nothing to offer their international buyers against the regional competitors.

The Aptma has been railing against the government’s taxation policies, a chronic energy shortage and red tape that act as hurdles to the ease of doing business in Pakistan. (SH)

Fibre2fashion News Desk – India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

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

Johan Berlin
InvestKonsult Sweden AB

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search