All Pakistan Textile Mills Association (APTMA) Punjab Chairman SM Tanveer has demanded that the Pakistani government should announce a stimulus plan to revive the ailing textile industry in the region. It wants a boost to employment and investments in the segment.
The APTMA has pointed out that due to lack of support the industry is increasingly becoming less competitive domestically and internationally. He said that there is a dire need for proper encouragement for development of the sector.
Tanveer points out, although energy projects envisioned by the Chief Minister of Punjab Shahbaz Sharif can be beneficial for the sector, they are long-term plans, and the Punjab textile industry requires immediate relief. The APTMA Punjab Chief added that due to severe load shedding losses of the textile industry are unbearable and the cost of production has increased manifold as compared to the competitors in the region. The viability of the industry will be totally eroded if the government fails to resolve energy-related issues.
He also informed that due to load shedding and shortage of gas supply as well as rising production costs, during last few months, about 375,000 spindles have stopped operation in Lahore and Faisalabad, some 312,000 in Multan and 158,000 in Rawalpindi. Production of more than 100 spinning mills have also been reduced in Punjab as the industry is operating only in one shift.