Pakistan Textile And Garment Industry Association Refuses Monetary Policy
Mohamed, President of the Pakistan Textile Mills Association (APTMA), refused.
monetary policy
He said that maintaining a 12% interest rate would increase more non-performing loans and increase the unemployment rate in the private sector.
Akbar said the textile and garment sector expects interest rates to be reduced to single figures, because the textile industry at the current price level is unprecedented in the country.
energy
Under the circumstances of the crisis, it suffered heavy losses.
Akbar criticized the Central Bank of Pakistan for reducing inflation through high interest rates, because the main borrowers of banks are
government
Rather than the private sector.
Government borrowing has seriously damaged the interests of the private sector. Because of the high cost of finance, the private sector is losing its viability rapidly.
Akbar said that the lack of surplus liquidity in the market is the main reason for the lack of investment in the industry.
On the other hand, the population is growing rapidly, which means that the unemployment rate will be even higher if there is no industrial expansion plan.
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