The All Pakistan Textile Mills Association (APTMA) on Tuesday thanked the federal government for approving a progressive and innovative five year textile policy that will last unitl 2025.
Taking to its Twitter handle, APTMA acknowledged Prime Minister (PM) Imran Khan and congratulated Finance Advisor Dr Abdul Hafeez Shaikh and Advisor for Commerce & Investment Abdul Razak Dawood on approval of the 5-year textile policy.
The association also thanked the State Bank of Pakistan (SBP) for its support during the pandemic.
Textile Industry Salutes Honorable PM @ImranKhanPTI and congratulates esteemed @a_hafeezshaikh and @razak_dawood on approval of progressive and innovative 5 year Textile Policy.
We also thank SBP for their support (i.e. TERF, Refin sch for Wages etc during pandemic @rezabaqir pic.twitter.com/Ut6APCsrDC
— All Pakistan Textile Mills Association (@APTMAofficial) November 24, 2020
“The govt has supported export-led growth through a regionally competitive energy tariff of $6.5 per mmBtu for gas and 7.5 cents d/kwh for electricity over the last 18 months’, the association said.
“As a consequence, the textile sector is operating at full capacity and going through an expansion, up-gradation with new factories being constructed to cater for additional demand. This has created approx. 200,000 and 5 million jobs shall be created if the policy is implemented in letter and spirit, the ATMA said further.
ATMA has assured the government that the policy’s implementation will ensure that exports are doubled from $13 billion to $26 bn in five years.