Aptma shifts principal office to federal capital

LAHORE (Staff Reporter): The All Pakistan Textile Mills Association (Aptma), a 60-years-old strongest business lobby, has shifted its principal office to the federal capital. Aptma Chairman Aamir Fayyaz has expressed the hope that the newly-established principal office of the association in Islamabad will play a constructive role for the industry and economy. He recalled that a better public advocacy to minimise policy-implementation divide and find solutions to the textile industry problems was always a driving force behind the idea. “This is a win-win for all. The textile industry value chain and government policy makers will benefit equally,” he assured. The Aptma chairman marked the point that the principal office at Islamabad would develop close liaison with policy makers including bureaucracy, political leadership and public representatives. He emphasized the Aptma membership to get united under their leadership and strengthen the central office to meet emerging challenges and move forward.

He hoped that the government circles would appreciate the move and get benefit from the industrial intellect combined together in the form of Aptma membership for collective good of the country.

Cotton export increases 11.40pc in August

ISLAMABAD (APP): The exports of raw cotton from the country during second month of current financial year witnessed an increase of 11.40 percent as compared the exports of the corresponding month of last year. During August 2017, about 4,521 metric tons of cotton worth $7.711 million exported as compared the exports of 4,103 metric tons valuing $6.922 million of same month last year. However, the exports of cotton yarn decreased by 13.03 percent as it was recorded at 38,303 metric tons valuing $101.388 million during the period under review as compared the exports of 40,773 metric tons worth of $116.574 million of same period last year, according the data of Pakistan Bureau of Statistics (PBS). Meanwhile, the exports of yarn other then cotton yarn grew by 16.35 percent during the month of August as compared the exports of same months of last year. About 1,467 metric tons of yarn other then cotton yarn worth $3.865 million exported during August as against the exports of 1,210 metric tons valuing $3.322 million of same month of last year.

On month-on-month basis, textile group exports gain the momentum and grew by 8.55 percent in second month of current financial year.

Textile group products worth over $1.172 billion exported in August 2017, which were recorded at $1.080 billion during same month of last year. On the other hand, exports of textile group increased by 5.81 percent during first two months of the current financial year and was recorded at $2.179 billion as compared the exports of $2.059 billion of same period last year. The exports of raw cotton during first two months was recorded at 5,225 metric tons worth $8.697 million as compared the exports of $10.197 million of same period last year.

During first two months, exports of other textile materials grew by 13.29 percent as above mention products worth $75.744 million exported as compared the exports of $66.85 million of same period last year.

Govt urged to cut cost of doing business

ISLAMABAD (APP): Business community on Thursday urged the government for reducing the cost of doing business in order to enhance exports from the country and reduce the imports into it. They stressed the need for facilitating the export industries by improving taxation system and focusing on value-addition sectors to promote exports. FPCCI Regional Committee on Industry Chairman Atif Akram urged the govt for timely payment of refunds after exports in order to ensure the availability of capital for industrial sector. Moreover, he urged for enhancing the production capacity and skill development of the concerned sectors through intervention which will bring about a change in the situation. He stressed the need for discouraging all the imports except for machinery and necessary items through revising taxes and duties, besides encouraging the remittances through bonus and lucky draws. More and more expatriates would take interest in sending money through legal channels while smuggling of the dollar should be discouraged through strict administrative measures to boost the economy, he observed.

Pakistan Railways overhauls 113

locomotives since 2013

ISLAMABAD (APP): Pakistan Railways (PR) has added 113 locomotives in its fleet after their complete overhauling since 2013, which is ensuring smooth and efficient operations of passengers and freight services. "Dedicated efforts of Pakistan Railways management and increased spending on the repair and maintenance have ensured availability of operational locomotives from 180 in May 2013 to 293 at present," official sources told APP. Pakistan Railways has a fleet of 448 Diesel Electric (DE) locomotives, out of which over 293 DE locomotives are operating on railway tracks at present in the country, they added. However, the sources said, during May 2013, only 74 locomotives (41pc) were on full complements ie six traction motors while remaining were with 2 to 4 traction motors and could not pull the requisite trailing load, resulting in 11 failures per working loco during the year. Regarding amount incurred on maintenance/repair of DE locomotives, the sources said during last five years 13413.039 million were spent for the purpose.

The year-wise details showed that during 2011-12, an amount of Rs1,220.684 million was spent on maintenance/repair of DE locomotives, Rs2,223.875 million during 2012-13, Rs2,643.806 million during 2013-14, Rs4,159.057 million during 2014-15 and Rs3,165.617 were incurred during 2015-16. The sources said it is evident that the expenditure on maintenance and repair of locomotives substantially increased during last three years which is reflected in their increased availability and reliability.

Replying to a question, the sources said 93 DE locomotives are under maintenance presently and will be made completely operational by June 2018. This is, however, an ongoing exercise as running locomotives have to be detained for carrying out routine schedules/overhauls. The sources said 62 Chinese locomotives are held up since long requiring heavy repairs and added rehabilitation plan of these locomotives is under consideration subject to a feasibility study to establish that the rehabilitation will be economical, keeping in view residual life of these locomotives.

To a another question regarding details of ZCU locomotives received during last five years, the sources said contract for supply of 58 locomotives had been signed. Five locomotives manufactured in locomotive factory, Risalpur, were commissioned during period from January to May 2015. When asked, the sources said there is a proposal for purchase of new locomotives in future.

Giving details, the sources said an international tender for purchase of 20 DE locomotives of 2000-2500 HP has been opened in February 2017 and is under evaluation while a PC-I for purchase of 300 DE locomotives is under preparation which would meet the requirements of Pakistan Railways for next ten years. Pakistan Railways intend to go for international bidding for indigenous manufacturing of bulk of these locomotives (about 80 percent) in Pakistan Railways locomotives factory, Risalpur through Transfer of Technology (TOT).