LAHORE: Pakistan’s textile exports likely to decline if the industry’s issues remain unresolved, all Pakistan Textile Mills Association (APTMA) said in letter to Prime Minister Shehbaz Sharif.
APTMA Chief Gohar Ejaz stated in the letter that if the textile industry issues are not resolved, the exports will decrease costing the country precious foreign exchange.
He urged PM Shehbaz to cut gas prices in Punjab for the industry making it comparable to Sindh.
According to Gohar Ejaz, the APTMA Patron-In-Chief, costly cotton has been imported to support the textile industry because cotton worth Rs5 million was destroyed by devastating floods.
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Earlier, the All-Pakistan Textile Mills Association (APTMA) on Friday warned that the country’s textile exports could fall below $1 billion a month from 2023 onwards, blaming the variety of issues for the sector that is currently operating at less than 50% capacity utilization.
In a letter addressed to Prime Minister Shehbaz Sharif dated December 23, 2022, APTMA’s Patron-in-Chief Gohar Ejaz stated that the current state of the world economy has been primarily caused by the Ukraine crisis combined with the floods in Pakistan have combined to formulate the perfect storm for our economy.
“Across the country, the textile industry is currently using less than 50% of its capacity. If corrective action is not done quickly, a very significant number of jobs have already been lost and many more will do so.”
