Pakistan Textile Industry: Textile Industry Calls For Attention

(Pakistan textile mill)

All Pakistan Textile mill The Association (APTMA) set up a high-level delegation of 16 people who called on Prime Minister Rajapervez Ashraf to pay attention to the survival of the textile industry.

APTMA senior executives will brief the prime minister on the shortage of electricity and natural gas. textile industry Competitiveness is being rapidly weakened.

A spokesman for APTMA said the delegation would inform the prime minister that investment and industrial viability were in danger because of the lack of US $5 billion BMR (balance, modernization and replacement) in the next three years to maintain the production capacity of the $15 billion industry.

He said the APTMA delegation also called on the prime minister to urge the Pakistan National Bank (SBP) to take measures to intervene in specific industries, including regional competition interest rates, to promote Pakistan's economic growth and employment opportunities. Textile industry Loans have fallen to the lowest level, just 7% of the 7 trillion rupees, 500 million rupees, mainly due to the energy crisis.

Bad loans will reach 50% of the total loan amount. Because of the shortage of energy, the utilization rate is only 40%. At this time, the textile industry can not carry out 12% interest rates and 7% bank spreads. He said that India offered loans to its textile industry at a rate of 3.5%, and Pakistan needed to learn from India.

The APTMA delegation will also discuss the forced acceptance of the additional cost of 100 rupee /BTU and natural gas infrastructure in the textile industry, because the textile industry is subject to a mandatory levy of 24 billion rupees per year.

A spokesman for APTMA said that the Minister of textile industry, water power, oil and natural resources and finance will also attend the meeting.