January 12, 2007	Friday	Zilhaj 21, 1427

LAHORE, Jan 11: Some 35 member mills of the All-Pakistan Textile Mills Association (Aptma) have submitted a request for convening extraordinary general meeting of the association representing spinners and weavers to consider the current crisis facing the textile sector because of higher production and financial costs.

In the request, the member mills have pointed out that investment made by the textile industry in the recent years is under serious threat as economic parameters have badly affected the viability of he industry and its growth during the last couple of years.

“The sharp rise in cost have additionally burdened a 20,000 spindles spinning unit by approximately Rs80 million. Therefore, we request you to call EOGM to consider issues pertaining to high electricity cost, rise in financial charges, and import of cotton from India through Wagha.”