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Budget 2009-2010 is un-friendly – APTMA

20
Jun '09
The annual budget 2009-2010 is one of the un-friendliest budgets for the industry, said the All Pakistan Textile Manufacturing Association (APTMA). The Executive Committee of APTMA collectively criticized the proposed budgetary measures.

The Committee also observed contradictions in the finance bill regarding the claims made by the government to stabilize the economy. These contradictions will nullify all the efforts taken by the industry for the survival of employment and exports.

The spinning and grey fabric-weaving segment has been separated again. The viability of spinning mills below 28000 spindles has been questioned by the Finance Advisor of the PM, Mr. Shaukat Tareen.

APTMA asserts that the unavailability of analysis and evidence behind the assertion is influencing the policy; hence, it recommends a policy based on facts and figures.
Spinning is an extension of the agriculture economy of cotton, so a misguided policy could cause unemployment in industrial as well as agricultural sector.

Fibre2fashion News Desk - India


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