Home Business 10-day closure of factories will have serious economic consequences: APTMA

10-day closure of factories will have serious economic consequences: APTMA

KARACHI: The Patron in Chief All Pakistan Textile Mills Association (APTMA), Gohar Ejaz, has rejected the decision of the Government for Eid ul Fitr holidays from 10th to 16th May 2021. While expressing his concerns, stated that this will bring the whole country practically shut down for 10 days from Saturday, 8th May to Monday 17th May 2021. Shutting down the country for 10 consecutive days is unacceptable as it would create a lot of glitches for the economy, industries, particularly the exporters who will not be able to dispatch their shipments abroad due to the complete closure of banks, ports, customs, and all other departments during excessive holidays.  He warned that we cannot afford such extended holidays as they will result in giving losses of up to billions of rupees to the national exchequer and terribly affect business activities particularly the exports. Simultaneously, it will badly affect and deprive the daily wage earners of the country of their desperately needed earnings for continuous 10 days. Workers will find it impossible to feed their families creating a social disaster.

He particularly highlighted the Textile Industry that despite the issues and hardship, committed to double the exports. Textile manufacturers have orders in hand and are working day and night to dispatch shipments according to the agreed schedule. This decision will end up in the cancellation of orders which will not only result in losses to manufacturers but also to the country. Keeping in view the social overall business climate and economic crises being faced by the country, Ejaz requested the Government to review the decision of Eid ul Fitr holidays from 10th to 16th May 2021. 

He said that even Bangladesh has also announced 3 holidays for Eid ul Fitr 2021 after the decision of the cabinet. The Covid restrictions days should be brought separately from Eid Holidays. Monday, 10th May to Wednesday, 13th May 2021 should be announced Corona Lockdown days while the holidays should only be from Thursday, 13th to Sunday, 16th May 2021. The government should not shut down production and transportation for 10 days as the country simply cannot sustain such production and export loss.

The writer is a member of staff The reporting desk can be reached at info@thecorrespondent.com.pk

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exit mobile version