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Business & Finance

APTMA chief rejects Eid-ul Fitr holidays, 10-day closure to result in $800mn losses

  • He warned that the country cannot afford such extended holidays as this will result in giving losses of up to billions of rupees to the national executive and terribly affect business activities particularly the exports.
05 May 2021

The Patron in chief of All Pakistan Textile Mills Association (APTMA) Gohar Ejaz has rejected the government decision for the Eid ul Fitr holidays from 10 to 16 May 2021.

“With the 10-day closure of public offices and banks from 8th-17th May, we will lose $800 million of production and exports,” said Gohar in a tweet post.

Expressing his concerns the textile business owner in a statement said that this will bring the whole country practically shut down for 10 days from Saturday 8th May to Monday 17th May 2021.

“Shutting down the country for 10 consecutive days is unacceptable as it would create a lot of glitches for the economy, Industries, particularly the exporters who will not be able to dispatch the shipment suffered due to the complete closure of banks, ports, customs, and all other departments during excessive holidays.”

He warned that the country cannot afford such extended holidays as this will result in giving losses of up to billions of rupees to the national executive and terribly affect business activities particularly the exports. “Simultaneously, it will badly affect and deprive the daily wage earners of the country of their desperately needed earnings for continuous 10 days. Workers will find it impossible to feed their families creating a social disaster.”

The National Command and Operation Centre (NCOC) has announced six-day Eid holidays (May 10-15) in the country with a view to containing Covid-19. "Announcement of Eid Holidays from 10-15 May 2021 with the clear intention of reducing national mobility," the statement from the NCOC said.

The NCOC also announced comprehensive guidelines by the name of "Stay Home-Stay Safe Eid-ul-Fitr-2021 from 8-16 May 2021". The NCOC has also imposed a ban on chand raat (on the eve of Eid) bazaars, including mehendi, jewellery, and clothing stalls from 8-16 May.