APTMA starts protest for restoration of viability of textile industry

    LAHORE: The All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz Saturday launched a protest campaign for restoration of viability of textile industry

    Protestors in Lahore, Karachi, Multan, Faisalabad and Peshawar offices of APTMA chanted slogans against the hostile attitude of government policymakers, saying that the anti-industry, anti-investment and anti-export behaviour was detrimental  to the viability and sustainability of textile industry in Pakistan.  

    Banners reflecting the worst-ever situation of textile industry and placards carrying slogans against the Federal Finance Minister Ishaq Dar were displayed on the occasion.

    The protestors also burnt Indian yarn and fabric outside the APTMA Lahore office.

    Earlier, Chairman APTMA chaired a general body meeting of zonal offices through video link, followed by the media talk to express his dismay over the delay in implementation of Rs180 billion package and non-allocation of funds in the recently announced budget.

    “Mere announcements will not help increase exports unless words are translated into action.”

    He cautioned that the country’s trade deficit has soared to $32 billion with rise in imports to $52 billion against less than $20 billion exports in 2016-17.

    “Remittances have fallen below $19 billionand the government has resorted to borrow and burden the country with additional foreign and domestic debts.”

    He warned of further decline in exports and investment in case the government kept looking towards borrowing instead of following an export-led growth strategy as the only way forward.

    “The government should rely upon the export sector rather than pursuing the IMF for additional debt,” he continued.

    He also sought an immediate release of stuck up sales tax and other refunds whether the RPOs are issued or not.  

    “Besides an export-oriented growth strategy and release  of refunds, the government should remove surcharges from the electricity tariff that cannot be exported to the international market,” he said and added that the government should also supply both system gas and LNG at Rs400 per MMBTU without levies and the Gas Infrastructure Development Cess.

    He announced holding of a joint textile industry convention in Islamabad in the month of July to start a countrywide movement after Eid if government failed to meet export sector demands.

    In the end, he appealed to the Prime Minister Nawaz Sharif to take stock of the situation and steer the industry out of crisis for the sake of millions of jobs before it is too late.

    Posted on: 2017-06-17T18:59:00+05:00