Gohar Ejaz writes letter to PM to resolve textile industry crises
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All Pakistan Textile Mills Association (APTMA) Patron-In-Chief Gohar Ejaz Monday sent a letter to Prime Minister Shehbaz Sharif to resolve the crises in the textile industry.
According to the 24News HD TV channel, Gohar Ejaz has realized the PM that around 60 percent of the textile industry is going to shut down by the reason for the severe financial crisis.
Gohar Ejaz told the PM in his letter that domestic exports are decreasing while the government has suspended the system of issuing tax refunds within 72 hours (three days).
On the other hand, he explained to the PM that foreign investors are extending the duration of export orders and a shortage of capital has emerged in the textile industry.
The APTMA leader said in his letter to the PM that the value of the rupee has decreased by 60 percent while sales tax refunds worth billions of rupees are pending.
He demanded the PM to restore the under-rating of the textile industry and SRAO 1125.
Reporter: Waqas Azeem