Related Keywords: affecting the textile units, APTMA, cost of doing business increasing, electricity tariff investment climate, incur losses, Pakistan textile industry, punitive withholding tax regime, regional competitors, system inefficiencies, voluntarily close down mills
The Chairman of the All Pakistan Textile Mills Association, Mr S.M. Tanveer had called for an emergency meeting of Aptma’s general body to deliberate on the adverse circumstances and found it not viable to incur losses by operating mills partially. Mr Tanveer said on Sunday that the association had decided to ‘voluntarily’ close down the textile industry because of the losses it had been suffering.
The Aptma chairman had appealed to the government to save the textile industry from collapse and save jobs of a 10 million-strong workforce.
