KARACHI: All Pakistan Textile Mills Association (APTMA) has demanded deferment of utility bill payments, as the export-oriented textile industry was facing the worst ever liquidity crisis.
APTMA Sindh-Baluchistan Region Chairman Zahid Mazhar, Chairman, in a statement Tuesday, said that it happened due to drastic slowdown of domestic as well as international markets and delay in receipt of payment, in addition to cancellation of export orders even from big organisations and buying houses.
He supported the efforts and measures taken by both the federal and provincial governments and assured all cooperation to fight against the COVID-19 Pandemic. He said the pandemic was having an extremely negative impact on Pakistan’s economy.
Mazhar said though the government has taken some positive steps like deferring loan repayments and speeding up of refunds, it would fall far short of keeping the industry uplifted. “The current situation needed special attention of the government to address problems of textile industry like the support extended by government of Bangladesh to its export sector, which has taken various measures to meet the shortage of liquidity created due to the consequences of the coronavirus pandemic,” he added.
Sheikh argued that the government should have maintained stable petroleum prices
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