LAHORE: All Pakistan Textile Mills Association (APTMA) fearing the textile industry crisis said it would set to endanger the cotton economy, as reduction in textile productivity would make difficult for milers to procure cotton ahead.
APTMA senior Vice Chairman Akbar Seth at a press conference on Wednesday said the cotton farmers would remain unable to get even production cost if energy crisis would persist for another month.
The cotton farmers will set their crop ablaze in case they failed to get appropriate price.
Syed Ali Ahsan APTMA’s Punjab Chapter said the production capacity equivalent to 100 textile units has already closed in Punjab due to energy load shedding.
He said Federal Minister Textile was running from the pillar to post and constantly writing to the Prime Minister for appointment in order to apprise him the Punjab-based textile industry issues.
APTMA was also seeking appointment from the Prime Minister to get resolve the energy relating issues, he added.
However he appreciated the Punjab government for providing gas supply to the Punjab-based textile mills during last winter, which was not possible during previous years.
He said the government should run all its capacity, as APTMA was ready to give fuel adjustment charges.
The acting chairman said APTMA has signed accord with Chinese company for 330 megawatts coal-based power plant but the problem was how to keep the operations continue in the meanwhile.
He urged the government to save jobs of 15 million direct and indirect textile workers by providing electricity and gas supply to the Punjab-based textile mills immediately.
He said exports of yarn and fabric have dropped by 22 percent and 36 percent respectively in April and May and more was likely to take place in next month due to unprecedented increase in load shedding.
According to him, the textile industry consumes 16 million bales out of which yarn and cloth worth 10 million bales is exported annually, which has suppressed due to energy crisis.
To a question regarding option of holding protest demonstration.
He said it was not the appropriate time because the country was at war with extremists and they wanted the issue be resolved amicably.
LAHORE: Securities and Exchange Commission of Pakistan (SECP) in collaboration with United States ...