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

New Investment for traditional Myanmar textiles, weavers

Textiles | On 21st Oct 2018

New Investment for traditional Myanmar textiles, weavers

Myanmar Artisans Co Ltd, Turquoise Mountain and the DaNa Facility,...

Pak knitwear exporters plan environmental compliance

Textiles | On 21st Oct 2018

Pak knitwear exporters plan environmental compliance

Pakistani manufacturers and exporters of knitwear garments have...

Courtesy: Hyosung

Textiles | On 21st Oct 2018

Hyosung converting spandex plants into smart factories

Hyosung TNC, the textile and trading unit arm of Hyosung, is...

Interviews View All

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

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

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

C Dhandayuthapani,

C Dhandayuthapani

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

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search