Textile millers have called the government to release imported textile machinery and spare parts immediately to ensure smooth operation of the sector.
“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,” said Asif Inam, Chairman of the All Pakistan Textile Mills Association (APTMA) in a statement.
“The restriction on the clearance of machinery is ostensibly pushing the industrial sector towards the new crisis,” said Shabbir Mansha Churra, Vice President of the Federation of Pakistan Chamber of Commerce and Industries (FPCCI).
“The policies of the State Bank of Pakistan (SBP) go against economic logic,” he added.
The issue was raised by the APMTA leadership before the federal finance minister Miftah Ismail in the presence of Governor SBP Jameel Ahmed and Deputy Governor SBP Dr Inayat Hussain online last weekend.
On the issue of liquidity crunch and the problems being faced in getting clearance of imported consignments in the wake of restrictions imposed by the SPB, the federal finance minister had directed Governor SBP to visit the APTMA office as early as possible and address these issues on priority.
