APTMA lauds Field Marshal leadership in driving economic revival and export growth

ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) extends its deepest and most heartfelt gratitude to Field Marshal Syed Asim Munir, NI (M) for graciously meeting with a business delegation led by Dr. Gohar Ejaz.
“We salute the Field Marshall’s exemplary commitment to engaging with the business community and industry, demonstrating both patience and concern for economic issues faced by the businesses and people of Pakistan,” said Chairman APTMA Karman Arshad.
According to press release, during the highly constructive meeting, the delegation commended the government and SIFC’s monumental efforts that have brought much-needed economic stability to the country and thanked the Army Chief for his unwavering support and resolve. It presented a comprehensive overview of the challenges faced by the industrial sector, with particular emphasis on the recently enacted expansions of the Federal Board of Revenue’s (FBR) powers. We are immensely thankful to Field Marshall Munir for immediately directing that the new provisions, particularly those added under Sections 37A and 37B of the Sales Tax Act, 1990 pertaining to arrest and detention, be held in abeyance, and for instructing the FBR to enter meaningful, solution-oriented dialogue with stakeholders and address their concerns. The GHQ will oversee progress through the Special Investment Facilitation Council (SIFC), fostering an environment of collaboration and trust. The delegation called for interest rates to be brought down in line with inflation to stimulate businesses and economic activity. It also highlighted the significant delay in notification of the Export Facilitation Scheme (EFS) amendments relating to exclusion of cotton, cotton yarn, and greige fabric from the scheme and imposition of an 18% sales tax on their imports.
Field Marshal Munir assured the delegation that these measures, as announced in the Finance Minister’s budget speech, will be implemented without delay.
APTMA is grateful for the Field Marshall’s attention to unsustainable electricity prices that are burdening manufacturers and businesses across the country. We appreciate his ongoing commitment to securing more competitive electricity rates for consumers nationwide, with special emphasis on revitalizing the industrial and export sectors. His unwavering support is a testament to his overarching vision to propel Pakistan’s economic landscape to new heights. On behalf of the entire textile sector and business community, APTMA once again extends its profound gratitude to Field Marshal Syed Asim Munir for his visionary leadership and steadfast dedication to Pakistan’s progress and growth. We pledge our unwavering support to the Field Marshal’s initiatives and look forward to swift implementation of his vision for a prosperous Pakistan.