Demand of Pakistan textile industry, zero rated energy should be restored
Pakistan textile industry is on the verge of collapse and has demanded that zero rated energy should be restored and pending refunds should be released immediately. All Pakistan Textile Mills Association (AMPTA) has already written a letter to the Prime Minister of Pakistan in this regard.
Industry sources say that the Trading Corporation of Pakistan (TCP) is likely to intervene if the price of footy remains below the intervention price. However, Pakistan Readymade Garments Manufacturers and Exporters say that pending refunds should be paid instead of sending audit notices. Separately, Pakistan Kisan Ittehad has appealed to the government to immediately impose agricultural emergency in the country. On the other hand, Pakistan yarn traders have rejected the huge hike in electricity and gas rates.
People associated with the textile sector have been continuously complaining that the biggest foreign exchange earner and the biggest employment provider sector is on the verge of collapsing due to the lack of attention of the government. More than 50 per cent mills and other sectors have already closed. It seems that the revival of this sector is difficult in the coming days as the crisis is getting deeper. According to the Textile Value Added Sector, he was supposed to meet the Prime Minister four times, but unfortunately he could not meet the Prime Minister.
Central leader of Value Added and Hosiery Association Javed Balwani said in the meeting of other representatives of the sector that it seems that the government and the Prime Minister do not care about them and they are shying away from meeting them despite being invited. It seems that they want the exporters to leave the country and invest in some other country. “Now we will contact the Prime Minister or the establishment etc. on Zoom.” He also said that if the government is unable to solve our problems then we will look to Almighty Allah to solve our problems in the holy month of Ramzan. According to some reports, some industrialists are ready to shift their business abroad.
Meanwhile, Asif Inam, president of the All Pakistan Textile Mills Association, said in an interview that the country's textile sector is on the verge of bankruptcy due to the negligence of the government. In this difficult situation it has become impossible to run any industry including textile industry when interest rate is at all time high, increase in gas rate by Rs 45 per unit will only create difficulty in importing cotton.
He said that the target of textile exports this year was estimated to be around $26 billion, but due to lack of interest and inappropriate steps taken by the government, textile exports would remain less than $19 billion. He also said that the entire industrial set up is in serious trouble due to the lack of interest shown by the government.
It is being feared that the country's total exports will decrease by $ 10 billion. The textile sector is running at 50% capacity. Some mills are running partially. If the situation remains like this, there is a possibility of closure of other mills as well. Already unemployment has risen in the country and exports have been at an all-time low. The industry demands that the government should take note of the situation and immediately focus on industry and agriculture so that the poverty level in the country can be reduced.
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