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Seeks govt's intervention; decides to disassociate with Textile Ministry
Staff Reporter
KARACHI: All Pakistan Textile Mills Association (APTMA) has threatened to go for strike if their demands to provide justice to the spinning industry are not met in next 10-day. Anwar Ahmed Tata, Chairman Aptma while addressing a press conference, on Tuesday at Aptma House Karachi said that Aptma has decided to disassociate itself with the Ministry of Textile Industry due to its discriminatory policies and appealed to the President and Prime Minister of Pakistan to intervene and provide justice to the spinning industry.
He said that the ministry of textile industry took unilateral decision to reduce the quantitative restriction on the export of cotton yarn without taking Aptma in confidence even though Aptma has always been against any restriction of export of cotton yarn and this further reduction and withdrawal of exemptions will deal a fatal blow to the spinning industry and this will result in distortion of the entire textile chain.
He said that government should not penalise the spinning sector in order to protect the vested interest of a few. The government should provide incentives to the downstream industry from its own resources if so desired.
He urged that government should encourage local suppliers of yarn through economic solutions such as reduced markup rates on short and long term loans and reduction in income tax rate from 35 to 5 per cent to encourage local sales of yarn. He said that we believe in free trade mechanism and the development of local industry through efficiency, productivity and competitiveness.
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