APTMA says revival of industry 'next to impossible'

KARACHI: Textile mills owners’ body has said that the revival of the industry has been next to impossible in existing conditions.

Chairman of All Pakistan Textile Mills Association (APTMA), Asif Inam, has said that the most expensive electricity being provided to mills in country.

Chairman APTMA has said that the corporate tax in Pakistan, has rose to double in comparison to neighboring India.

He said the cement factories being run on 10 to 30 percent capacity. “Hundreds of factories and SME units have been shutter down”.

He also said that in federal budget imported raw material has been given relief, while tax has been imposed over the local raw material.