Association official demands early implementation of revival initiatives.
PHOTO: FILE
This was stated by Punjab Minister for Industries, Commerce and Investment Mian Aslam Iqbal during his visit to the All Pakistan Textile Mills Association (Aptma) office.
"Both Prime Minister Imran Khan and Finance Minister Asad Umar have publicly committed to steer Punjab's textile industry out of the crisis-like situation by reducing the cost of doing business," he said. "I would take up this matter with the federal government in a meeting likely to be held soon."
With cut in input cost, textile sector vows to double exports
The minister asked Aptma to present a plan for the revival of closed units by outlining the measures required to address the challenges faced by the industry.
Speaking on the occasion, Aptma Punjab Chairman Adil Bashir urged the Punjab government to press for early implementation of the textile industry's revival initiatives with the federal government.
The chairman appreciated the federal government's decision to restore the closed facilities in the province, which held export potential of billions of dollars and could promote employment.
"The Punjab-based textile industry expects a notification for regionally competitive energy prices," he said. "It is also awaiting orders for the withdrawal of customs duty/sales tax on raw material imports, which is required for industrial consumption but is in short supply, including the removal of non-tariff barriers in the way of cotton import via Wagah."
Bashir emphasised the need for releasing all the withheld tax refund claims of the textile industry, announcing a package of initiatives and providing long-term financing facility for exports.
Published in The Express Tribune, December 1st, 2018.
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