APTMA and PYMA discuss joint strategy

At the initiative of Akber Sheikh, Chairman APTMA Punjab, meeting between APTMA Punjab and Pakistan Yarn Merchants Association, Punjab and Sarhad Zone Rana Abdul Ghafoor, Chairman PYMA was arranged on the importance of co-operation on issues of common concern.

Akber Sheikh expressed disappointment over the static state of affairs with regard to the initiative for strengthening domestic commerce contained in the Trade Policy 2007-08. He said that removal of disparities between domestic and international trade and commerce was incumbent on the Government. He pointed out that with regard to domestic commerce, measures like credit rating of buyers and sellers, insurance of bad debts, documentation of commercial transactions and multiplicity of taxation were areas that called for removal of anomalies.

He pointed out that too much reliance on exports has been a structural problem of the textile industry in Pakistan. He called for a balance between domestic sales and exports in the sustenance equation of the textile industry in Pakistan.

Both the associations deliberated various issues and decided to constitute a joint committee on domestic commerce to resolve transaction issues (e.g. honouring of commitments, quality maintenance and infringement of brand rights) between buyers and sellers, strengthening of domestic commerce, remedy distortions in market operations and to share data and information.