All Pakistan Textile Mills Association (APTMA) is looking for an immediate release of machinery and spare parts to avoid a new crisis.
Asif Inam, Chairman of APTMA, said, “We urge the government to allow immediate release of textile machinery and spare parts that are stuck due to the restrictions on import of items covered under Chapter 84 and 85 of the Customs Tariff. If import of machinery and parts, which are essential for the smooth functioning of power plants, are halted, the industry will stop running gradually. Our members are facing severe problems running their mills due to the government ban, and subjecting the SBP to the permission of the federal government.”
Aba Ali Habib, Securities Textile Sector Analyst, said, “In order to stay competitive in the international market and keep up operational efficiency, the textile industry needs constant upgradation, which requires imports of parts and machinery. Therefore, the recent restrictions on textile machinery imports will likely affect our textile exports as companies are unable to update and maintain their equipment to meet international standards.”
Saad Ziker, a Textile Sector Analyst, said, “The government should allow immediate release of machinery required by the textile sector, which has the highest contribution to overall exports. If the government does not allow this, there will be difficulties in completing orders which are already booked. f orders are not completed on time, it will create disruption from our side and produce a negative image of Pakistan in international forums. Government officials should realize that textile exports are the key to reducing the current account deficit (CAD). If exports do not increase, it will ultimately have an impact on the overall economic performance of the country.”
