Economic uncertainty affecting Pak textile sector – APTMA
August 13, 2014 (Pakistan)
If the prevailing uncertainty in the country stays for long time, All Pakistan Textile Mills Association (APTMA) Punjab Chairman SM Tanveer apprehends serious impact on the textile industry.
He was of the opinion that textile industry will not be able sustain long-term uncertainty since it is an export based industry.
“Alongside the millions of workers who work in the industry too face uncertainty”, Tanveer said, while addressing reporters at APTMA House.
“For continuity of jobs, productivity and growth, there must be continuity in economic activities too and national assets of the country must be protected and wheels of the economy should not stop for a single minute”, he said.
Chairman APTMA Punjab informed that the industry stakeholders were worried over the uncertainty and have demanded an early end to it.
The Pakistani textile sector has benefited from market access offered by the EU, but to take maximum benefit, a sound and stable business environment is needed, Tanveer noted.
He added by saying that it was only tolerance and moderation that could take out Pakistan out of socio-economic issues it was wrapped in and that maximum preference should be given to economically uplifting the country.