The newly elected central chairman of All Pakistan Textile Mills Association (APTMA), Tariq Saud has sworn to restore the viability of textile industry to ensure growth and sustainability. Saud said that the country’s textile industry was set to invest $1 billion per year in case the government ensures a congenial environment to double exports in the next five years. He added that the government is expected to restore the confidence level of textile millers by announcing a textile package soon.

He assured the members that he and his team would do everything possible to take forward the agenda of growth and sustainability of the textile industry while ensuring regional competitiveness. He gave this assurance on the occasion of the 57th Annual General Meeting of APTMA during his maiden speech. Saud added that APTMA would be represented in the same fashion as it had been earlier on by previous management and stressed upon harmony and unity amongst APTMA members to resolve issues amicably.

Saud said it was unfortunate that the textile industry, which is mainstay of the economy, leading foreign exchange earner and employment provider through backward and forward linkages, was currently passing through unprecedented crisis. Thus, the capacity to produce $3.3 billion worth of exports was already closed. Saud is confident that the Prime Minister would announce a textile package for restoration of competitiveness in the international market and safeguard the textile industry in domestic commerce. This according to Saud, would drive industrialisation and economic growth. The much awaited textile package covers the entire textile value chain, he added.