All Pakistan Textile Mills Association (APTMA) has decided to shut down textile mills across the country starting on from Saturday.
“The textile mills of the country will also be shut down from Saturday. 1,600 textile mills have already been closed down,” the APTMA said.
“Five million employees will lose their jobs and 30 million people will be affected due to the closure of textile industries,” it added.
“The government has withdrawn competitive power rates for the textile industry. The closure of the textile industry will deal a heavy blow to the domestic exports,” it stated.
“Increasing exports is very important and the only way out for the economy of the country. The government must provide electricity and gas at competitive rates to the textile industry. It should also ensure continuous power and gas supply to the textile industry,” it demanded.
APTMA delegation visits Tanzania to source cotton for Pakistan
A delegation of All Pakistan Textile Mills Association (APTMA), led by the Patron-in-Chief Dr. Gohar Ejaz, and senior members Mr. Fawad Mukhtar and Mr. Anwaar Ghani, has left for Tanzania, for sourcing Cotton for Pakistan to fulfill future requirements of cotton in the wake of the destruction caused by the flood in the cotton-growing areas.
Pakistan has been hit by the worst floods in its history, affecting 33 million people and incurring an estimated cost of more than $10 billion of infrastructural damage. According to the latest reports, economic losses and damages caused by the flash floods could range from $15 billion to $20 billion, as the government fears up to 12 million more people will slip into poverty.