All Pakistan Textile Processing Mills Association (APTPMA) thanked Federal Finance Minister Asad Umar and State Minister for Revenue M Hammad Azhar on issuance of notification by OGRA regarding system gas price @ Rs 600 per MMBTU in all over Pakistan, announcement of RLNG @ $6.5 per MMBTU and electricity @ 7.5 cent per unit/kWh for Textile and other major export-oriented sectors of the country and said it is a right step in the right direction. These views were expressed by APTPMA chairman Engr Rizwan Ashraf on the occasion of recent visit of Asad Umer and Hammad Azhar at Faisalabad Chamber of Commerce & Industry (FCCI).
The APTPMA chairman thanked and appreciated Prime Minister Imran Khan for these prudent decisions and hoped that these steps would go a long way towards ameliorating the lot of the masses besides revival of the textile sector and promotion of export trade, and urged the PM to broaden and perpetuate the relief package for the industry.
On this occasion, APTPMA chief highlighted chronic issue of GIDC faced by members and stressed to resolve the issue to save members from financial problems. He also said to reduce the trade deficit, there is need of rationalization of FTA with China and other countries in the best interest of our local industry.
Our cost of production is being escalated due to high taxation and duties which should also be reduced enabling us to compete international market, he said.
He said we should evolve comprehensive regional trade policy specially with western bordering countries. Our trade with regional states is currently about 5 percent which should be 40 percent. Facilities of state-of-the-art Research & Development and Standard labs should be available in Faisalabad and other big textile cities. He also said that we can't improve our exports and control trade deficit until and unless we will not give incentives to our local industry.
Concluding, APTPMA chief once again thanked the PM Imran Khan, Asad Umer, and his team and head of PTI's Textile Policy makers Zafar Iqbal Sarwar for fulfilling their commitment for revival of the textile industry of the country.