Kamran Irshad, chairman of all Pakistan Textile Mills Association (APTMA), has warned that the textile industry is in serious crisis, 40 % of spinning mills have been closed and the rest are nearing closing.
Optima has demanded that the government provide equal opportunities to the local textile industry and immediately reform the policy to save the spinning industry.
Kamran Irshad says the heavy import of yarn has caused severe damage to the local industry and if the situation continues, more than 100 spinning mills will be closed, which will endanger millions of jobs.
According to Chairman APTMA, unfair tax system and government policies have brought the textile industry to the brink of elimination, which is at risk of investing $ 15 billion.
Kamran Irshad said that immediate steps are necessary to save Pakistan’s cotton economy and sales tax reforms should be made to support the textile sector, otherwise the industry will be destroyed.
