Textile millers place fresh demand for incentive package

The delay in the announcement of textile package was having serious aftermath on the textile sector including permanent closure of units, labour layoff, impact on cotton procurement and supply chain disruption, said All Pakistan Textile Mills Association (Aptma) Punjab chapter chairman Aamir Fiaz Sheikh, accompanied by former central chairman S.M. Tanveer, at a press conference held on Saturday.

Textile millers on Saturday placed a fresh demand to the federal government to announce a package for the industry as high cost of doing business and liquidity crunch was forcing shutdown of units and reduced number of shifts.

The millers also appealed to Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar to save the industry from complete collapse.

The Aptma leader said that textile exports have declined in quantitative terms across the value chain as there has been no-investment in it for the last 6 years. Their international market share and domestic market is being encroached upon by India.

Sheikh said that 45 percent of production capacity was idle for the first time in history as 45pc load on Lesco network was reduced during Eidul Azha holidays.

The government promised to implement a decision within five days of the last meeting, he reminded.

The industry could not afford such closures, adding that some 20 mills had closed down in the last two months.