The chairman of All Pakistan Textile Association (Apta) has said that the recently launched economic survey and the State Bank of Pakistan (SBP) third quarter report show that the service industry, especially the banking industry has progressed and expanded manifold whereas the manufacturing sector especially the textile spinning sector has slowed down.
The industrial sector has generally found itself requesting and agitating through newspaper articles, personal meetings and through newspaper advertised "appeals".
However, after the failure of all such methods to draw some remedial measures from the government, the textile-spinning sector claims that they are facing one of the worst crises in their history. He further said that the extraordinary increase in their cost of production had made the industry unviable.
The chairman insisted that the spinning sector did not want subsidies but a level-playing field and consistent policies. He pointed out that regional competitors Bangladesh, India and even China continue to give unfair subsidies to their industries in an attempt to 'buy out' our decades old customers.
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