Peshawar
Spinning Textile Mills of Khyber Pakhtunkhwa are facing acute shortage of raw material fearing closure of mills due to problems in establishing letter of credit. Expressed by Mr. Afan Aziz, Chairman Khyber Pakhtunkhwa Textile Mills Association in a statement issued to the print and electronic media.
Mr. Afan Aziz stated that we wrote a letter to the Governor of the State Bank of Pakistan requesting that this issue be resolved as soon as possible.
He praised the state banks’ circular dated December 27, 2022, which relaxed import restrictions on export-oriented sector imports. Mr. Afan stated that spinning mills are an export-oriented sector and thus qualify for import relief.
Mr. Afan Aziz expressed his concern that raw materials in KPK spinning mills are rapidly depleting, threatening mill closure. He contended that the closure of mills would result in massive unemployment in KPK, potentially causing public unrest.
He urged the authorities to take action to save the province’s spinning textile mills and relieve massive unemployment.
