APTMA calls for implementation of long-term policy

LAHORE: The All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz has urged the government to announce and lay down the implementation mechanism for the agreed long-term policy for the revival and growth of the textile industry.

Prime Minister Shahid Khaqan Abbasi in his meeting with all textile industry stakeholders in September had very wisely desired the Federal Textile Ministry and the textile industry to come up with the long-term policy.

The Federal Textile Board, in its follow up meeting with all stakeholders, had unanimously proposed various initiatives to be announced at the earliest. The long-term policy was to enable investment to achieve additional $20 billion exports in the shortest timeframe to overcome the growing trade deficit.

The APTMA chairman said the policy would offer to extend existing duty drawbacks for five years and increasing drawbacks annually by one percent for garments and made-ups. It would support provision of gas at an all inclusive Rs600/mm BTU to the industry across the country; withdrawal of Rs3.50/kWh surcharge on electricity to bring its tariff at par with region at Rs7/KWh, and establishment of commercial enclaves in major cities with provision of rent-free space and other facilities for facilitating foreign brands to establish their buying houses.

Apart from that it would also support skill development of men and women with the provision of Rs0.1 million training cost per annum per worker to garmenting units, and extension of LTFF scheme to indirect exports and for infrastructure for garment plants, he added.