The All Pakistan Textile Mills Association has revealed that its member companies are considering a major financial step to support the country’s economy. The association is discussing the possibility of depositing up to $2 billion with the State Bank of Pakistan.
In a statement issued from Lahore, Kamran Arshad said the textile sector stands firmly with the government and is committed to preventing any financial instability. He emphasized that the industry is ready to play its role in supporting the national economy during this period.
Arshad added that once the ongoing peace talks conclude, the association plans to meet Shehbaz Sharif to discuss and finalize a structured plan. He reiterated that APTMA has always followed a “Pakistan first” approach in times of need.
He also noted that Pakistan has already met the requirements set by the International Monetary Fund and that exports are showing strong growth, improving the country’s overall economic outlook.
This development comes after Pakistan decided to return $2 billion, along with interest, to the United Arab Emirates by the end of the month. The amount had previously been held with the State Bank of Pakistan as a deposit.
