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Pakistan: Provide more incentives to textile processing units, urges APTMA

  

Sheikh Shahid Javaid, Regional Chairman, All Pakistan Textile Processing Mills Association (APTPMA) has urged the government to provide more incentives for the textile processing sector. Javaid said, previous governments had badly ignored the textile processing industry despite the sector earning huge foreign exchange for the country. However, the PTI government took pro-industry steps to revive this sector. It provided subsidized energy rates for the textile sector in addition to implementing the ‘inspector-less regime’ policy to stir its growth, he added.

The government also provided relief to the industrial sector and adopted smart lockdown policy to keep industrial wheel on moving during the COVID-19 period. It provided electricity on comparatively less rates to the textile sector, Javed observed. He added, COVID-19, has increased raw material prices manifold at global level due to cartelization, pushing the textile processing industry on the verge of total collapse.

Therefore, the government needs to take bold steps and provide more incentive to the sector by exchange rates, reversing freight rates on previous level and imposing zero rate policy on raw material imports, he added.

 
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