The All Pakistan Textile Mills Association (APTMA) has voiced severe concerns regarding the FY25 budget proposed by the government, calling it an extremely regressive budget that threatens the collapse of the textile sector and its exports with dire consequences for employment and external sector stability, as well as for overall economic and political stability and security of the country. After peaking at $19.3 billion in FY22, textile exports plummeted to approximately $16.5 billion in FY23. The trend continued throughout FY24, with monthly exports consistently falling over $600 million below the installed capacity. (Business Recorder)
14/6/2024