APTMA: Long Term Fiscal Policy

The Pakistan textile factory Association (APTMA) Punjab branch is required to provide long term fiscal policy and investment credit policy for yarn manufacturers.

This requirement was put forward at the meeting of the Pakistan Provincial Textile Industry Association Punjab Provincial Branch Management Committee at a meeting on Friday.

The members of the Association asked the president of the Pakistan textile factory Association to solve the special problems of the spinning industry with the premier.

They say the spinning industry in Punjab and NWFP is suffering from unfavorable geographical conditions (far away from ports) and bad weather conditions.

The members of the all Pakistan Textile Mills Association require the development and tariff rebate policy of the yarn manufacturing companies, which are facing the problem of cost growth, as is the case in other sectors of the textile industry.

They said that last fiscal year, the government provided 3% R & D support for polyester staple industry, which should be passed to the spinning industry.

Although the Ministry of textiles is ready to allow SRO, the Ministry of finance has prevented it, although measures have been announced in the financial law.

Similarly, the members of the all Pakistan Textile Mills Association require that export financing, including concession loans to exporters, should also be given to yarn manufacturing units, as in other downstream sectors.

They also demanded that the growth of 31% of gasoline prices should be recalculated, which should be differentiated or even abolished among different sectors of the economy.