The All Pakistan Textile Mills Association (APTMA) Punjab Chairman Syed Ali Ahsan has congratulated Muhammad Pervaiz Malik on assuming charge of Commerce and Textile Minister. He urged him to convene a meeting of the Federal Textile Board and start implementing the already finalized recommendations for restoration of its viability at the earliest. "Textile Industry has already held detailed meetings with Federal Textile Board (FTB) to finalize the recommendations," he added.
He said a widening trade deficit can only be managed by strengthening export-led growth strategy and let the textile industry produce exportable surplus to increase exports. According to him, the textile industry is ready to work closely with the government and put forward a vision to double the exports through full utilization of the stalled capacity and revive the growth momentum.
He said the high cost of doing business, liquidity crunch, policy-implementation divide, a surge in subsidized ports of yarns and fabrics and delay in the release of Rs 180 billion textile package are a few major concerns of the industry at present.
He said that revival and growth of textile industry is a must to steer the industry out of a bad shape and contribute to the exports of the country. He also said let the domestic industry grow while enjoying the first right to avail opportunities against the competitors.