LAHORE: All Pakistan Textile Mills Association (APTMA) Chairman SM Tanveer has said that the federal government has withheld the notifications of initiatives under the Textile Policy 2014-19, especially the notification for Technology Up-gradation Fund Scheme (TUFS).
SM Tanveer said that this delaying is hindering the industry from undertaking BMR and fresh investment initiatives for textile industry. Consequently, he said that serious structural imbalances have occurred across the textile value chain, as 25% of the basic textile worth $4 billion is being exported annually without converting into garments due to the non-existence of backward and forward linkages to add value up to $15 billion exports.
The Aptma chairman apprehended that the new scheme may also witness a similar fate in case no timely steps are taken by the government. He urged the Prime Minister, Finance Minister and Commerce Minister to take immediately stock of the situation and issue directions for notifying the Textile Policy 2014-19, in particular the TUFS, to ensure investment for undertaking initiatives under BMR and green field projects.
