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Closure of 500,000 spindles concerns APTMA

28
Apr '07
All Pakistan Textile Mills Association (APTMA) reports that due to lack of any relief to the spinning industry and irregularity in Government's textile policy, about 500,000 spindles have closed down over the last one year.

Akber Sheikh, the APTMA spokesman, said at a media meet that the association has urged Government to take corrective measures and provide relief to spinning industry. Moreover, non-cooperative attitude of administration has led to this closure. Whereas neighbouring country's manufacturing sectors receive support from their respective Governments.

With this prevailing circumstances, big textile houses are also abstaining themselves from investing in textile manufacturing which is hampering the growth of this industry.

According to Sheikh, further reluctance from the Government to provide relief in this sector would lead to more closures and related several other units would not be able to get necessary upgradation in future.


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