Cost of doing business in Pakistan highest in region

LAHORE  - The repeated increases in taxes and unprecedented jumps in power tariff and oil prices have made the local textile industry uncompetitive and the APTMA will take up all these issues with the government, asking the authorities to extend at least some breathing space for the industry’s survival.
This was stated by the newly-elected APTMA Punjab chairman SM Tanvir after assuming the charge. He said that despite the fact that the country’s largest foreign exchange earning sector is facing several hardships, the textile exporters are firm to combat all obstacles in their way. He said that cost of doing business in Pakistan is highest in the region as electricity, gas, mark-up and raw material prices have increased sharply.
Following the Annual General Meeting at the APTMA Punjab House, S M Tanvir took charge as Chairman APTM Punjab. The meeting was largely attended by the membership from Lahore, Faisalabad and Multan. Tanvir urged his managing committee to work out a plan together for the next year. Dilating upon the issues concerning him for survival and growth of the textile industry, he said uninterrupted gas and electricity supply to the industry besides a uniform country-wide rate would be his top most priority. Further, he said, issues of sales tax refund and related matters would also be sorted out.
Then, he said, issues concerning to law and order, expansion and re-organization of APTMA House Punjab, and setting up of an Advisory Council for issue-based input and advice will also be taken up by him ahead.
Tanvir said that though exporters are not getting any relief, concessions from the government, they would continue to their efforts for not only the survival of the export-oriented industry but strive for achieving new goals in the greater interest of the country and its economic sovereignty.
Meanwhile, the outgoing Chairman APTMA Punjab Shahzad Ali Khan welcomed the new management and expressed the hope that it would pick up threads where his team has left in the association. The outgoing central Chairman APTMA Ahsan Bashir also spoke on the occasion and said that the level of engagement of all stakeholders by the APTMA management, under leadership of Gohar Ejaz, was unprecedented.
According to him, the APTMA management has resolved burgeoning issue of energy crisis and hourly-based gas supply to mills has proved a game changer for textile industry.