Aptma rejects textile package

LAHORE: The Central Executive Committee (CEC) of the All Pakistan Textile Mills Association (Aptma) has rejected the textile package being extended by the previous government, saying that it would reverse 15 percent growth in exports, a statement said on Saturday.

The previous government had repeatedly assured the textile industry of the continuation of the original package, announced 18 months ago in January 2017, it said.

The previous government had further assured that it would strictly be available for exports from indigenous materials.

“It was agreed between the Aptma leadership and the previous government that rebate would be offered on indigenous materials,” a spokesman for the association said, adding: “But the package has revealed that it would be extended to the Indian products.”

Further, the CEC also criticised reduction in rebate and exclusion of yarn and fabric from the list.

The CEC also rejected the imposition of 11 percent duty on import of cotton from July 15, as the domestic cotton production in the coming season is expected to be even less than 10 million bales and the industry will have to import more than five million bales to meet the shortage.

The spokesman said the Aptma CEC met on Friday with group leader Gohar Ejaz and Aamir Fayyaz in the chair to consider developments regarding imposition of duty on cotton and changes in the export package by the previous government.

The CEC apprehended that the imposition of import duty on cotton would erode the viability and competitiveness of industry and nullify the gains in exports during the last one year.