Home / Knowledge / News / Association/Org / APTMA sets up camp in Islamabad to resolve issues

APTMA sets up camp in Islamabad to resolve issues

10
Jul '12
Spokesman of All Pakistan Textile Mills Association (APTMA) has said that 22-members delegation of APTMA representing all regions under the leadership of Chairman APTMA Mohsin Aziz, along with Zonal Chairmen and Vice Chairmen, is setting up five days camp in Islamabad to resolve textile industry issues with the government.

While in Islamabad, the APTMA delegation will call on President, Prime Minister, ministers for Textile Industry, Water & Power and Petroleum & Natural Resources.

The spokesman said as many as 57 textile mills prime users of electricity on independent feeders having hardly 135MW load, have been subjected to six to eight hours industry load shedding causing to one shift layoffs since last 60 days.

He said the government, in view of the severe electricity shortage, had asked APTMA to cooperate, which it did at the cost of layoff of 150,000 workers. The APTMA delegation will call on the Minister for Water & Power with a plea that the textile mills on independent feeders should be exempted from load shedding.

APTMA spokesman said the APTMA delegation will also hold meeting with Minister for Textile Industry to represent way forward for growth and investment in textile industry under Technology Up-gradation Funds Scheme (TUFS) to mitigate the impact of high interest rates.

He said APTMA has already proposed to the government for 100 percent refinance for the export-oriented textile industry across the value chain including spinning and weaving industry. The loans of textile industry have touched to lowest ebb of 7% of Rs7 trillion, which amounts to hardly Rs500 billion mainly due to energy crisis.

The textile industry in Pakistan has been waiting on the sideline of energy crisis in the absence of textile policy initiatives by the government. While the textile industry in Bangladesh and India kept on growing with availability of funds at concessional rates as against around 14% in Pakistan since last four years.

However, he said, still the effort to control inflation through keeping high interest rate. Rather, it is destroying the economy as both growth and employment rate continued falling to below zero percent. The textile industry being export-oriented cannot export inflation, thus require a sector specific intervention for its growth, he added.

He further said that APTMA has proposed that either the government should reduce interest rate to 8% or extend the facility of 100 percent Export Refinance to the industry ahead.

APTMA spokesman has expressed the fear that both the investment and industry viability would be hit hard in there is no BMR of US $5 billion in next three years to maintain production capacity of $15 billion. He said last BMR took place back in 2005.

The regional competitors made new investment exponentially during this period through sector specific interventions. India did the same and achieved positive results to manage rising cotton crop and unemployment.


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Jan 2021

US detains cotton products from China's XUAR from Jan 13

US Customs and Border Protection (CBP) recently announced it will...

Pic: Christopher & Banks Corporation

Retail | On 15th Jan 2021

CBKC in US voluntarily files for bankruptcy protection

US specialty women's apparel retailer Christopher & Banks Corporation ...

Pic: Shutterstock

Textiles | On 15th Jan 2021

Hanoi to allocate more than $41 million to support SMEs

Hanoi will allocate VND957 billion (more than $41 million) to assist...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

It will take some time for the people to change their buying choices

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Textile Industry, Head honchos

Textile Industry
Head honchos

African fashion has a strong identity

Anupam Arya,

Anupam Arya

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

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Angelo Leung,

Angelo Leung

Guangdong Asiatex Textiles provides international and domestic apparel...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

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

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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


January 2021

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


Advanced Search