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APTMA rejects SECP Corporate Rehabilitation Act
28 Sep '12
3 min read
Chairman APTMA has urged the government to reconsider the move aiming at closing down industry, which is mainstay of the economy, providing 150 million jobs and earning billions of dollars of foreign exchange annually while developing both backward and forward linkages in the cotton economy.
He deplored that the SECP was planning to squeeze textile industry when neighbouring India has reduced mark up by 5% to facilitate its textile industry in order to create jobs and exports to the country.
He said textile industry in Pakistan is also having strong potential to grow and the government should extend a favourable treatment to it in a highly adverse situation instead of inviting troubles for it through illogical steps like the one hatched by the SECP.
All Pakistan Textile Mills Association (APTMA)
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