Several members of Textile Mills Association (TMA) have received warning letters from various banks during the past few weeks according to which exporters were asked to settle their Non-Performing Loans (NPL) otherwise their case would be sent to other agencies.
The banks have sent notices to exporters on the plea of "Wilful Default" which is totally unjustified as majority of the textile sector is at the verge of closure due to their stuck-up funds with the government agencies as well as exorbitant increase in utilities charges increasing cost of doing business. Since the Banking Court already exists in the country so inclusion of any other agency for resolving the issue is quite deplorable.
If these exporters are given some relief by the banks and the government, they will be able to revive their businesses in a short time period and boost the exports of the country. TMA members urged the government to resolve the issue amicably.-PR