KARACHI, Sept 21: Leaders of All Pakistan Textile Association (APTA) want immediate suspension of cotton export till the final confirmation of cotton production data is available or else they have predicted a repeat of wheat crisis-like situation.
Taking notice of media report about 5.27 per cent drop in export of textiles in the current fiscal year so far, APTA chairman Adil Mahmood convened a meeting of the leaders of the association in Lahore on Thursday who expressed fear of a further drop in months to come because of what it was alleged an indifferent and hostile attitude of the authorities.
about 160 mills have already closed down, a press release of APTA announced while informing that yur buyers from Europe, USA, Africa reluctant to visit Pakistan because of growing lawlessness.
The press release speaks of the difficulties being faced by exporters of leather products, engineering and other items. A host of factors that include frequent breakdown in electric power breakdowns, non-availability of other infrastructure facilities are hurting textile and other industries.
textile crisis will be worse than that of wheat, a one of the leaders was quoted to have said in the meeting. The press lease pointed out increase in financial cost in last few years from four per cent to 14 per cent, 10 per cent rise in electricity cost and recent increase in fuel cost has rendered business uncompetitive in the world market.
Claiming that textile industry sustained a loss of Rs17 billion last year, the APTA warns on mills capacity to pay back Rs200 billion outstanding loans of banks. It wants import of cotton from India via Wagah border.
The meeting wanted government to take notice of deteriorating situation in textile industry and should come out with recovery measures in the much awaited textile policy.
Taking notice of media report about 5.27 per cent drop in export of textiles in the current fiscal year so far, APTA chairman Adil Mahmood convened a meeting of the leaders of the association in Lahore on Thursday who expressed fear of a further drop in months to come because of what it was alleged an indifferent and hostile attitude of the authorities.
about 160 mills have already closed down, a press release of APTA announced while informing that yur buyers from Europe, USA, Africa reluctant to visit Pakistan because of growing lawlessness.
The press release speaks of the difficulties being faced by exporters of leather products, engineering and other items. A host of factors that include frequent breakdown in electric power breakdowns, non-availability of other infrastructure facilities are hurting textile and other industries.
textile crisis will be worse than that of wheat, a one of the leaders was quoted to have said in the meeting. The press lease pointed out increase in financial cost in last few years from four per cent to 14 per cent, 10 per cent rise in electricity cost and recent increase in fuel cost has rendered business uncompetitive in the world market.
Claiming that textile industry sustained a loss of Rs17 billion last year, the APTA warns on mills capacity to pay back Rs200 billion outstanding loans of banks. It wants import of cotton from India via Wagah border.
The meeting wanted government to take notice of deteriorating situation in textile industry and should come out with recovery measures in the much awaited textile policy.
