APTMA blames prevalent domestic situations for loss of revenue


All Pakistan Textile Mills Association (APTMA) Chairman Ahsad Bashir on Saturday blamed the current domestic crisis for loss of revenue and jobs that could have been created by the textile industry.
According to details, group of US journalists under the Pakistan-US Journalists Exchange Programme in collaboration with Pakistan Institute of Legislative Development and Transparency (PILDAT) visited the APTMA office. APTMA Central Chairman Ahsan Bashir, APTMA Group Leader Gohar Ejaz, APTMA Vice Chairman Wisal Monnoo and Convener of International Trade Committee Amir Fayyaz made detailed presentation on textile industry of Pakistan.
Ahsan Bashir said the APTMA was a premier association in Pakistan and playing a leading role in policy-making of the government. The textile industry had a 46 percent share in the manufacturing sector of Pakistan, absorbing 38 percent labour force of the country, he said.
He further said that the industry was generating 4000 MW through Captive Power Plants (CPPs) to meet energy needs.
Amir Fayyaz said the industry had lost 10 billion dollars during last five years due to war against terrorism.
Moreover, APTMA Group Leader Gohar Ejaz said the industry had failed to produce a single job during last five years for the first time in 65 years history of the country. The industry was producing 15 million jobs to produce 12 billion in exports and it had the capacity of hiring another 15 million jobs with the level of capacity installed to manufacture export goods, he added.
He said the edge of a zero-rating facility to competitors was making industry incapacitated, putting it into an odd situation due to prevailing disadvantages.
The industry had installed capacity of 22 billion dollars of exports but some 10 billion in capacity was not in use due to energy crisis and market access issues, he mentioned.
The visiting delegation also raised various questions to understand the trade issues with the US.