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To Meet Exports Target, Miftah Assures APTMA Full Support Of Govt

LAHORE:Federal Finance & Revenue Minister Miftah Ismail  assured to meet the export target APTMA the All Pakistan Textile Mills Association have  government’s full support in the current fiscal year.

Miftah said the disparity in price of gas between different provinces to  reconsidered and hopefully they issue notification
and resolved shortly with approval of the cabinet.

Miftah added, the government was exploring various options to ensure sustainable gas supply to the export industry in the
coming winter and a number of measures had already been initiate to meet the requirement.
He promised to find some suitable ways to meet the current gas demand of textile mills. Read More..

On the issue of liquidity crunch being faced by the industry and the problems being faced in getting clearance,
of imported consignments in the wake of restrictions imposed by SBP.

he directed governor SBP to visit to the APTMA office next week in order to address the textile industry’s all finance-related issues.

Minister for Railways Khawaja Saad Rafique said  country is passing through a difficult time when PMLN came into power.
However, Prime Minister Shahbaz Sharif and his team worked hard to take the country out of the financial mess.

He urged the export target APTMA leadership to come forward and help out the flood-affected people hour of need.
While Dr Gohar Ejaz said in order to achieve US $50 billion exports in five years, adequate supply of energy at regionally competitive tariffs was a must.

Also, availability of working capital to 500 new entrepreneurs, TERF like facility for Rs500billion to facilitate investment
and debt equity ratio of 80:20 to include building and infrastructure as 50 per cent of cost of garment factories was also need of the hour.

He said the textile sector was committ to set up 1,000 garment plants. To enable successful outcome of this scheme,
he said, it was extremely important to train women to contribute to various stages of the value chain e.g. stitching, weaving etc,

Chairman APTMA Rahim Nasir said all imports of the export oriented sectors should be allowed hindrance-free admission into Pakistan,.

As the impact of the delay in clearance of the last two to three months would be significant in case of further delay.
He also sought restoration of the SRO 1125 i.e. zero rating for the entire textile value chain.

Chairman APTMA Punjab Hamid Zaman demanded priority of Gas/RLNG supply to the exporting sectors in Punjab,
hosting more than 50 per cent of the total installed capacity in Pakistan, and requires 200mmcfd gas/RLNG.

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