Aptma urges immediate steps to bring textile sector out of crisis

Iqbal Ebrahim said that the above issues need immediate resolution and if the govt does not take any concrete step on war footing basis then the textile industry will have to suffer irreparable losses as the textile industry is in turmoil since last two years. He added that due to the existing crisis we are unable to compete in the int'l market and meet the export orders of our buyers. He was of the view that the results of above impediments will be seen from the export earnings of the last quarter of 2008 and 1Q of 2009 of textile sector as textile exporters are currently working with customers on buying for spring and summer season.
He urged the government to provide relief to the textile industry without any further delay so that the businessmen and industrialists regain confidence on the democratic Government otherwise the repercussions of the current situation will result in high rate of loan default and closure of industry, huge unemployment resulting in law and order situation, etc.