Majority Of Textile Mills In Punjab Close Down Operations On Eid

Majority Of Textile Mills In Punjab Close Down Operations On Eid
A large number of textile mills in Punjab have closed down their operations on Eid due to dilly-dallying attitude of the government to save the industry from high cost of doing business.
The industry sources said the millers were also pondering over the decision to observe a complete strike in case the government did not rescue the industry. “We are facing viability issue over the last three years and finally things are getting out of control now,” said one of the industrialists requesting anonymity.
The industry circles said they were expecting an immediate outcome of recent meeting of industrialists with the prime minister in Karachi but the decision regarding lifting of import duty on cotton import was delayed once again.
As per the industry sources, the prime minister has constituted a committee on the issues hitting growth in exports. The said committee is due to meet after Eid. Also, the prime minister has directed the concerned ministries to withdraw levies and duties on import of five million bales of cotton.