President Asif Ali Zardari will be the chief guest at the annual dinner of All Pakistan Textile Mills Association (Aptma) on August 27. Federal Ministers, Secretaries and senior officials from diplomatic circles will also attend the dinner. The textile industry stalwarts and senior members will reach Islamabad from across the country to attend the dinner under the leadership of Chairman Aptma Mohsin Aziz and Group Leader Aptma Gohar Ejaz.
Chairman Aptma Mohsin Aziz has said that the textile millers are upbeat on fresh investment to avail the pro-industry measures of the government. The government has already revamped Pakistan Cotton Committee (PCC) to enhance cotton production in terms of quality and quantity, he said and added that Aptma has agreed to chair the PCC in the larger national interest. According to him, the quantitative increase in cotton crop would require additional investment of US $4 to 5 billion to consume it accordingly.
He said additional investment is only possible if government ensures energy security, regionally competitive interest rate and market access for the textile industry of Pakistan. Mohsin said the textile industry is the mainstay of Pakistan economy and its sustainable growth is the need of the hours to increase employment opportunities and exports of the country. He said both the backward and forward linkages are needed to be in place to capitalise the potential of textile industry.
He further said that the country's situation is also towards stability despite the election year and both the entrepreneurs and industries are upbeat to undertake business ventures in the larger national interest. Chairman Aptma expressed the hope that the government would resolve energy issue of the industry and allocate electricity and gas on top priority ahead. Besides, he said, the government will also bring the mark-up rate to single digit in near future. He said the regional competitors are already providing support their textile in order to get boost in terms of exports and employment.