Home / Knowledge / News / Textiles / Focus on long term energy policy, APTMA tells govt
Focus on long term energy policy, APTMA tells govt
28
May '11
In its budgetary proposal, The All Pakistan Textile Mills Association (APTMA), among several measures, has suggested having a long-term energy policy and reducing interest rates, which were hiked in a bid, to tame inflation.

APTMA proposed these initiatives in order to ensure all round growth of the textile industry in Pakistan.

Giving details about the proposals to fibre2fashion, Mr Ejaz said, “APTMA is looking at two basic reforms in Pakistan. “First, we have proposed having a long-term energy vision, since we are more and more dependent on oil, which is not the way forward as it is the most expensive way of producing electricity.

“So APTMA has put across a proposal, to create an energy policy with a five, ten or even a thirty year vision, in the form of a policy statement. For which, we need to focus on indigenous raw materials, like coal, gas or nuclear energy, by immediately adding 6,000 MW in three years.

“And then every year, we need to add, as per the growth rate that we are forecasting for Pakistan. So we need to have a policy vision statement which should be a part of the Federal Budget this time, so that a vision is given to the country's industry, where no investment is taking place and chart a way forward for our country”, he informed.

“Secondly, to control inflation, Pakistan has increased interest rates to 14% and it is not helping our country. It has come to a point that, there is zero investment. Against this, in India it is just 8-10 percent.

“So, actually, we are not using the right tool and are over-killing the concept of inflation. We really need to bring down the interest rate to 7 percent, so that our industry has room to expand, because there is no investment happening at 14 percent interest rates.

“So it has to be a growth-oriented policy rather than only, inflation-curb policy. It is the fiscal deficit, due to which the government has to borrow and which is causing inflation. This is neither helpful to the government also, because they are paying two times the real interest rates to the banks. So, this is no way to control inflation”, he noted.

“These are the two most important budgetary proposals, APTMA has suggested to the President of Pakistan in the presence of APTMA members and the whole Federal Cabinet, including the economic and energy ministers”, he concluded by saying.

Fibre2fashion News Desk - India


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

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

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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