The Pakistan Hosiery Manufacturers Association (PHMA) has called off strike after the assurance of Prime Minister, Yousaf Raza Gilani that he would resolve problems of the textile industry, including those of the knitwear garment sector, following the 31 percent increase in the gas prices, electricity tariff and higher mark up rates.
He is expected to announce a textile relief package in a meeting on Thursday (tomorrow)in Islamabad. Association Zonal Chairman, Javed Aslam, told Business Recorder on Tuesday after having a meeting with Gilani at the governor house.
Federal Minister for Textile Ahmad Mukthar, Federal Minister Finance Naveed Qamar, Fisalabad Chamber of Commerce and Industry President Khawaja Asim Khursheed, Syseing Association Faisalabad President Mirza Shafique, Khalid Mehmood, Power Looms Association President Nazim Shazad and Thair Bharar were also present during the meeting.
Aslam also said Gilani assured to resolve the problems of the knitwear industry. "If the issues are well resolved, the apparel sector will be able to export beyond the targets with which the government will establish in the upcoming trade policy," Aslam added.
He said that the strike was being called off for a week and if the government followed to delay tactics to provide relief to the textile sector the Action Committee would further chalk out its future strategy. "The apparel industry is facing worst situation now-a-days due to increased cost of production as compared with our competing countries like India, Bangladesh, China and Vietnam.
The industry had to go on strike under sever compulsions and if government would solve their issues, it can further grow and contribute more towards the national income of the country," he said.