All Pakistan Textile Mills Association (Aptma) leadership has set current fiscal year as a year of investment provided the government accepts Aptma proposal of bringing interest to 7 percent and ensure 7 days a week gas supply to the textile industry to help Pakistan achieve $ 20 billion textile exports by the end of 2011-12, said spokesman of (Aptma), here on Thursday.
The country needed investment for creation of exportable surplus and the textile industry is set to make further investment provided energy security and international competitive mark up rate is in place, he added.
The spokesman Aptma said that the Aptma leadership has revived the textile industry during the last one year. Aptma management led by its chairman Gohar Ejaz successfully represented the case of free market mechanism, resulting in a win-win situation for all stakeholders of the industry. He said this effort has helped in additional resource transfer worth Rs 350 billion to the cotton growers during the last year. Now this situation is leading to a strong expectation of highest ever cotton crop of 16 million bales this year. He said availability of cotton in the domestic market would make the textile industry self sufficient first time during last 10 years.
Also, the spokesman said an increase of $ 4 billion in one year has taken place due to intervention free environment ensured by the highest authority. Total textile export in value terms has almost reached $ 14 billion during financial year 2010-11 against $10.2 billion in financial year 2009-10.
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