APTMA Is Shutting Down All The Textile Mills Of Pakistan From Saturday
APTMA declared a nationwide shutdown of textile mills beginning on Saturday. This loss the textile industry suffered is due to floods all across Pakistan.
The All Pakistan Textile Mills Association (APTMA) has made the decision to close all textile mills beginning on Saturday.
30 million people will be impacted, and five million workers will lose their jobs: opposition to the elimination of large power bills demands a constant supply of gas and electricity.
“Five million employees will lose their jobs and 30 million people will be affected due to the closure of textile industries,” APTMA said in a statement.
“The textile mills of the country will also be shut down from Saturday. 1,600 textile mills have already been closed down,” added APTMA
“The government has withdrawn competitive power rates for the textile industry. The closure of the textile industry will deal a heavy blow to the domestic exports,” was also told in the statement.
“Increasing exports is very important and the only way out for the economy of the country. The government must provide electricity and gas at competitive rates to the textile industry. It should also ensure continuous power and gas supply to the textile industry,” it demanded.
The country’s economy can only recover by increasing exports, which is a crucial step. The government is required to offer the textile sector competitively priced gas and electricity. Additionally, it should guarantee the textile industry’s constant access to gas and electricity.
To obtain cotton for Pakistan, an APTMA mission travels to Tanzania.
The Patron-in-Chief Dr Gohar Ejaz, senior members Mr Fawad Mukhtar and Mr Anwaar Ghani, and a delegation from the All Pakistan Textile Mills Association (APTMA) have departed for Tanzania to source cotton for Pakistan in order to meet the country’s future needs following the devastation the flood resulted in the cotton-growing regions.
The greatest floods Pakistan has ever experienced have affected 33 million individuals and resulted in an estimated $10 billion in infrastructure damage. The government is concerned that up to 12 additional individuals could become poor due to the flash floods, which are estimated to have caused economic losses and damages of $15 billion to $20 billion.
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