APTMA decides to shut down textile mills across country

Sounds more like strong-arming than anything else. Textile sector had ample time, capital, incentive AND opportunity to invest in alternate energy projects. But it instead chose to fill up its coffers and rely on industry subsidies to cover up their reds and show record profits. What goes around comes around.

it was long due. please also include removal of sales tax for exporters in your demands

@Truthisbitter813, what kind of alternate energy projects you are talking about ?

APTMA is used to being pampered and asking for undue concessions from the Government, this is nothing but blackmailing. Since inception they have earned billions of Rupees every year and instead of investing that in their core business they all have been investing in Real Estate markets earning further billions of Rupees. They should invest in alternate sources of energy and make Pakistan prosperous instead of begging again and again.

Govt should not surrender. Textilers minting money due to higher exchange rate. Hiring low paid employees on daily wages not giving them any benefits like medical gratuity pension etc. keeping multiple accounts hiding income etc. Trxtile owners personal assets are increasing day by day and workers are suffering.

@Ecosent, seems like he is talking about solar power projects. Many textile units have already converted partially to solar.

APTMA always look out for favours at the cost whole economy. Who will bear the cost of IPPs, if affluent businesses like APTMA wants live on subsidies. Pakistan can't count on APTMA for solving problem of adverse balance of trade. No favours be given them. Instead should spend on support to Export based IT company's who are the last hope to save Pakistan.

The regime changers handlers never kept it in mind PPP PML-N in last 40 years of rules couldn't raise exports above US$ 25 BILLIONS & TAX COLLECTIONS RS.3,800 BILLIONS FIRST TIME PTI GOVT ACHIEVED EXPORTS OVER US$ 31 BILLIONS & TAX COLLECTIONS TO RS.6,200 BILLIONS IN 2021-22 BY IMRAN KHAN GOVT

@Ecosent, All types.

Aptma plz support pakistan.u people made good profit last years bec of high exchange now Pakistan need ur support

I fully support APRMA's demand.

Good work

Why do we have rupee. We should all deal in us dollars so that their is no variation. Rupee causes life of ordinary people misery

If you look at power tariffs for textile in India and Bangladesh, they are at approximately 20 rupees per unit. Pakistan should provide power to textile exporters at around the same rate in order for our exports to grow and reduce balance of trade deficit. India's foreign exchange reserve of 660 billion dollars was built through subsidized exports and IT industry boost. We must do the same in order to improve our standard of living. More importantly, we must encourage local production of goods and services to reduce import of finished goods. If we don't increase exports and decrease imports, we will continue to spiral into a currency crisis every time we achieve modest economic growth.

these are blackmailers and who give meager dividend to citizens who have invested in shares of their companies despite hefty earnings in 2022 .You demand subsidy from government but unwilling to distribute profits to your shareholders Blackmailers

@Shoaib Ali , last gov told fake figures. If these figures was then dollar should be less than RS100 not above 170. Unfortunately PLMN and PTI ARE equal in all negative aspects.

@Truthisbitter813, They have invested in solar energy but government is also trying to tax renewable energy source and Environmental Protection Agency is destined to put pressure on manufacturers by putting irrelevant environmental cases on companies in order to receive bribery. Textile mills have already shifted to solar energy partially. You cannot shift to solar energy fully because renewable energies are kind of unreliable. You can use them to cut your energy costs but it's difficult to use them as your primary source of energy. Secondly other form of energy production that is available in Pakistan is coal power plants, which many companies have already installed. Coal used in coal power plant is a high quality coal that mainly comes from other countries such as Iran, Kazakhstan, Poland etc. Due to ban on imports, it has become difficult to run coal power plants.

@Aizad Sayid, why they don't distribute dividend to their shareholders according to earnigs