LAHORE: All Pakistan Textile Mills Association Chairman Yasin Siddik said that sustainability and growth of the textile industry is being marred by energy supply constraints and liquidity crunch, limiting industrial potential to operate on full scale. “Unfortunately, the textile industry’s exports witnessed dismal performance during the fiscal year 2013-2014, clocking in at $13.7 billion against $13 billion during the corresponding period previous year,” said Siddik. “It reflects the textile industry’s poor performance, as the actual export target for the outgoing fiscal year was $16 billion.” He asserted that limited energy supply, both electricity and gas, to the Punjab-based textile mills that constitute 70% of the total size of the industry, has proven a major hurdle in smooth operations and steady growth. The chairman urged the government to extend audience to the APTMA delegation to get first-hand knowledge of issues confronting the growth of the industry.
Published in The Express Tribune, August 6th, 2014.
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