Aptma slams delay in technology fund scheme

Published April 1, 2015
In a press release issued on Tuesday, Aptma Chairman S M Tanveer said that the delay was hindering the BMR and fresh investment in the textile industry.  — Reuters/file
In a press release issued on Tuesday, Aptma Chairman S M Tanveer said that the delay was hindering the BMR and fresh investment in the textile industry. — Reuters/file

LAHORE: The All Pakistan Textile Mills Association (Aptma) has lamented the inordinate delay in the issuance of notification for Technology Upgradation Fund Scheme (TUFS).

In a press release issued on Tuesday, Aptma Chairman S M Tanveer said that the delay was hindering the BMR and fresh investment in the textile industry.

“There has been no meaningful up-gradation in the sector since 2006. Consequently, serious structural imbalances have occurred across the textile value chain, as 25 per cent of the basic textile worth $4 billion is being exported annually without value addition. The restructuring would create jobs,” he said.

He urged the government to take stock of the situation and direct the relevant departments to notify industry friendly steps of the Textile Policy 2014-19, in particular the TUFS and Greenfield projects.

Published in Dawn, April 1st, 2015

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