APTMA writes to PM Shehbaz over textile industry issues
- By Web Desk -
- Dec 26, 2022
LAHORE: All Pakistan Textile Mills Association (APTMA) Patron-In-Chief Gohar Ejaz on Monday wrote a letter to Prime Minister Shehbaz Sharif over the textile industry issues, ARY News reported.
As per details, the letter stated that If the textile industry issues are not resolved the exports will decrease.
He demanded PM Shehbaz that the gas prices for the textile industry in Punjab should be decreased and equalled to Sindh.
The APTMA Patron-In-Chief Gohar Ejaz said that expensive cotton has been imported to run the textile industry as the cotton worth Rs 5 million was destroyed because of catastrophic floods.
Read more: APTMA WARNS 60% TEXTILE MILLS ON THE VERGE OF CLOSURE
Earlier, the All Pakistan Textile Mills Association (APTMA) rang alarm bells on the economic crisis in the textile industry, saying nearly 60% of the industry is on the verge of closure.
In the letter, the APTMA Patron in Chief said that 60% of the industry is on the verge of closure due to the extreme liquidity crunch. The country’s exports are plummeting, and the government has suspended the 72-hour Tax refunds too, he added.