Pakistan : APTMA slashes statement on textile policy

Last week, a rumour was spread concerning All Pakistan Textile Mills Association (APTMA) citing that due to suspension of the federal Government, the new textile policy could not be enforced.
It was also said that nearly 200 mills had been closed in the country aggravating the already declining exports of the current year. Although the Government spent millions of rupees to deliver a pragmatic and applicable policy, it failed nonetheless.
The issue is still under consideration and would reach a conclusion only when the new Government takes over.
However, in an exclusive interview with Fibre2fashion, Mr Akber Sheikh, Chairman of Media Committee from APTMA denied the statement saying, “All Pakistan Textile Mills Association (APTMA) has not issued a statement along these lines.”
Reverberating views of APTMA, Mr Sheikh said “A caretaker government has been sworn in, as per the constitution, to provide a seamless transition to the newly elected government. In the caretaker government an eminent business man who happens to be an ex-chairman of All Pakistan Textile Mills Association, has been sworn in as Federal Minister for Commerce and Textiles. The textile industry has expressed full confidence in the newly nominated minister.”
Mr Sheikh further stated, “The industry is continuously facing difficulties due to increased cost of doing business, shortfall in cotton crop, power shortages and high bank interest rates etc. Several mills have closed down or reduced production and the new investment in the industry has dried up. The industry hopes that the caretaker government will not wait for the new government to be installed but will continue to work for the solution of the industry's problems.”