LAHORE - The textile industry has announced to close mills on August 7 (Friday) across the country against huge taxation on export-oriented industry.
Addressing the press conference, here on Wednesday, All Pakistan Textile Mills Association Chairman S M Tanveer said that APTMA members mills from KPK, Karachi, Lahore, Multan and Faisalabad have unanimously decided to shut their units on Friday in protest against unjust taxation measure over textile industry, rendering it uncompetitive allover the region.
“If heavy taxation is not withdrawn by the finance ministry the industry will extend its strike that would continue for unlimited period till the announcement of withdrawal of taxes on export industry.”
The industry is also open for dialogue with the government, urging the Prime Minister Nawaz Sharif to spare time to meet the textile industry representatives for early revival of the industry. He said the export-oriented textile industry cannot pass on the inflation to the buyers and thus the industry requires level playing field to compete in the international market place.
He expressed worries over the continuing decline in the textile exports in the month of June 2015. He said the APTMA has been pointing out the drop in exports and the reasons behind it to the government.
"APTMA has recently put forward a seven point proposal for early revival of the textile industry to overcome the dwindling exports," he said.