APTMA hopes for favourable package, vows $1b annual investment
Would inject money and double textile exports in five years given govt support
I am sure that Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar would announce the textile package on priority in the next few days, says Saud. PHOTO: FILE
KARACHI:
As it eagerly awaits the textile package, offering different sorts of incentives, the All Pakistan Textile Mills Association (Aptma) is also keen on investing $1 billion a year, a give-and-take philosophy that aims to eventually increase the country’s exports and therefore, the foreign exchange reserves.
The newly-elected central chairman, Tariq Saud, said that the textile industry was all set to invest $1 billion annually in case the government ensures a congenial environment to double the exports in the next five years.
“The government is expected to restore the confidence level of textile millers by announcing the textile package sooner than later,” Saud said.
The official said he has vowed to restore the viability of the textile industry to ensure growth and sustainability. The assurance was given during his maiden speech on the occasion of the 57th Annual General Meeting of Aptma via video link to all zonal members.
“Being the Sindh-Balochistan Zone’s outgoing chairman, I have been part of the association’s negotiations with the government on the textile package and I am sure that Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar would announce the textile package on priority in the next few days.”
Saud assured his team not to leave any stone unturned with regards to taking forward the agenda of growth and sustainability of the industry while ensuring regional competitiveness.
“Aptma would be represented in the same fashion as it had been represented earlier on by the previous management,” he added.
Saud, a businessman, has served Aptma as vice chairman three times and Aptma Sindh-Balochistan Region Chairman on five occasions.
The outgoing Aptma central chairman SM Tanveer hoped the new leadership will be able to guide the textile industry in a positive direction.
“It is unfortunate that the textile industry, the mainstay of the economy, the leading foreign exchange earner and employment provider through backward and forward linkages, is currently going through an unprecedented crisis,” he said, adding that the capacity to produce $3.3 billion worth of exports is already closed.
Published in The Express Tribune, October 1st, 2015.
As it eagerly awaits the textile package, offering different sorts of incentives, the All Pakistan Textile Mills Association (Aptma) is also keen on investing $1 billion a year, a give-and-take philosophy that aims to eventually increase the country’s exports and therefore, the foreign exchange reserves.
The newly-elected central chairman, Tariq Saud, said that the textile industry was all set to invest $1 billion annually in case the government ensures a congenial environment to double the exports in the next five years.
“The government is expected to restore the confidence level of textile millers by announcing the textile package sooner than later,” Saud said.
The official said he has vowed to restore the viability of the textile industry to ensure growth and sustainability. The assurance was given during his maiden speech on the occasion of the 57th Annual General Meeting of Aptma via video link to all zonal members.
“Being the Sindh-Balochistan Zone’s outgoing chairman, I have been part of the association’s negotiations with the government on the textile package and I am sure that Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar would announce the textile package on priority in the next few days.”
Saud assured his team not to leave any stone unturned with regards to taking forward the agenda of growth and sustainability of the industry while ensuring regional competitiveness.
“Aptma would be represented in the same fashion as it had been represented earlier on by the previous management,” he added.
Saud, a businessman, has served Aptma as vice chairman three times and Aptma Sindh-Balochistan Region Chairman on five occasions.
The outgoing Aptma central chairman SM Tanveer hoped the new leadership will be able to guide the textile industry in a positive direction.
“It is unfortunate that the textile industry, the mainstay of the economy, the leading foreign exchange earner and employment provider through backward and forward linkages, is currently going through an unprecedented crisis,” he said, adding that the capacity to produce $3.3 billion worth of exports is already closed.
Published in The Express Tribune, October 1st, 2015.