Newly elected Chairman All Pakistan Textile Mills Association (APTMA) Asif Inam, while addressing 66th Annual General Meeting (AGM) of the Association, has demanded continuation of a regionally competitive energy tariff to ensure viability of the textile industry. Asif Inam, further vowed to restore the viability of the textile industry to ensure growth and sustainability.
He said: It is unfortunate that the textile industry, which is mainstay of economy, leading foreign exchange earner and employment provider through backward and forward linkages, was currently passing through unprecedented period of crisis. Consequently, the capacity to produce over $5 billion worth of exports is already closed.
Asif Inam said, the textile industry has already invested over $5 billion and ready to further invest one billion dollar annually in case the government ensures a congenial environment to double the exports in next five years.
Meanwhile, APTMA has requested an urgent meeting with Finance Minister Ishaq Dar to discuss the critical issues facing Pakistan’s textile industry as they are resulting in huge financial losses to the national economy.
