All Pakistan Textile Mills Association announces closure of 200 mills from tomorrow

[Crusher]

These spoiled potatoes need urgent chhitrol to bring them back to their senses, they are behaving like badmash types to blackmail the government and the society in large.

Learn to code.

Life is tough - if you cannot survive in the free market that's too bad. Government has no role propping up private businesses.

Pakistani industrialists hated "direct nationalization" by Bhutto but have no shame to enjoy government subsidies/handouts which is essentially "indirect nationalization" of these industries particularly textile sector.

 

[Smoke]

There is a HUGE fk up, by the media, i am aware of it and i am watching it from the outside. LOVING IT!!


Agreed. So what would be the long term reform suggestions?


No one will benefit if business die. So don't worry, that not on agenda. About guidance, how sir? Please share.

Identify what & why businesses are importing. Work towards policies that substantially reduce this. For example, Honda is assembling cars here, why have they still not tried to setup an engine building factory? Give incentives for this.

Pakistan is well equipped to handle secondary economic sectors, but we have little to none incentive to extract raw materials and process them. Except milk.. we love milk.

 

[Arsalan]

Identify what & why businesses are importing. Work towards policies that substantially reduce this. For example, Honda is assembling cars here, why have they still not tried to setup an engine building factory? Give incentives for this.

Excellent. I though we were talking about textile sectors but this suggestion is a good one in general and have been talked about previously as well. However one small thing i want to point out. For gov. to give incentives they need money! The money is earned/collected by taxes. The current hue and cry from the industry is about taxes and taxes alone. There were industrial sectors that were zero rated in the past, meaning there was no GST on them. The reason was these sectors were supposed to be export oriented and the gov in bid to support exporters gave them exemption. The problem however was that these sectors also catered local demand. The problem was that they were slipping in local supplies at times and not paying up taxes on them either which i think you will understand was not right and will also understand how big or a loss it was. The gov. not have imposed tax on these sectors, they say that tax will be applied across the board and for the items that were actually exported the gov. will give refund of tax. The businessmen concern right now is that the system of refunds in the past have been too slow and this will block working capital of the business. This is a rightful concern as well. The solution to this however is NOT to exempt them from tax but to improve the refund mechanism. There cannot be any tax exemption on local sales sir, specially on textiles which is a multi BILLION rupee industry. If you go visit Faisalabad market, there are thousand plus shops in the main market (clock tower market) each of them doing business worth hundreds of thousand DAILY. Not a single one registered!! This new scheme is targeted at these business.

And listen, i gave you a hint, the media fked up!! This whole thread and discussion is off track!

You guys are welcome to setup your shops here in Bangladesh broz. We do have some red tape issue, but you can make handsome profits and settle in our safer, greener environment...

Every Pakistani mill (textile) that went to Bangladesh are back

 

[Maxpane]

Excellent. I though we were talking about textile sectors but this suggestion is a good one in general and have been talked about previously as well. However one small thing i want to point out. For gov. to give incentives they need money! The money is earned/collected by taxes. The current hue and cry from the industry is about taxes and taxes alone. There were industrial sectors that were zero rated in the past, meaning there was no GST on them. The reason was these sectors were supposed to be export oriented and the gov in bid to support exporters gave them exemption. The problem however was that these sectors also catered local demand. The problem was that they were slipping in local supplies at times and not paying up taxes on them either which i think you will understand was not right and will also understand how big or a loss it was. The gov. not have imposed tax on these sectors, they say that tax will be applied across the board and for the items that were actually exported the gov. will give refund of tax. The businessmen concern right now is that the system of refunds in the past have been too slow and this will block working capital of the business. This is a rightful concern as well. The solution to this however is NOT to exempt them from tax but to improve the refund mechanism. There cannot be any tax exemption on local sales sir, specially on textiles which is a multi BILLION rupee industry. If you go visit Faisalabad market, there are thousand plus shops in the main market (clock tower market) each of them doing business worth hundreds of thousand DAILY. Not a single one registered!! This new scheme is targeted at these business.

And listen, i gave you a hint, the media fked up!! This whole thread and discussion is off track!


Every Pakistani mill (textile) that went to Bangladesh are back

is it true sir?

Every Pakistani mill (textile) that went to Bangladesh are back

is it true sir?

 

[Arsalan]

is it true sir?

Sorry what are you asking about bro?

is it true sir?

Yes! If one or two mills decided to keep a plant running over there as well i am not aware of it but as per my information there is no such mill. Everyone is back.

 

[Maxpane]

Sorry what are you asking about bro?


Yes!

sir i was asking about business men who invested in bangladesh are they coming back?

 

[Arsalan]

sir i was asking about business men who invested in bangladesh are they coming back?

not ARE coming back.

They are back already. Most of them came back in 12 to 18 months of leaving and there were not a lot of them anyway. Shoor zada thaa!!

 

[Maxpane]

Yes! If one or two mills decided to keep a plant running over there as well i am not aware of it but as per my information there is no such mill. Everyone is back.

thats great . a good news indeed

They are back already. Most of them came back in 12 to 18 months of leaving and there were not a lot of them anyway. Shoor zada thaa!!

hm in media buhat zyada shor tha sir

 

[Arsalan]

thats great . a good news indeed


hm in media buhat zyada shor tha sir

Thats why i dont trust media. The one sector i myself am involved in and know about, the never got it right about it so i assume that they are wrong about the things that i dont know about as well.


For example, the case of this thread here. APTMA going on strike as per media. That is also a lie. APTMA mills are all running and i went to one today! No talk about any strike at all and here we have a thread with 100 posts discussing the strike that actually is not real to begin with.

Its much like that balakot strike

 

[Crusher]

More than 50% of mills supported by this organisation are still operating, yet these 200 are closing? Why?

Failed businesses - thats why.

And failed businesses have no right to exist anymore in a capitalist system of economy. Here in Germany few years ago a big "construction depot" chain called "Praktiker" with branches all over Germany and some other parts of Europe defaulted and it lost all its assets and ceased to exist even though it was a more than "35" years old business chain with huge assets and number of employees all over the Germany. But that is how Capitalism works, it is a brutal system of economy where only the fittest businesses survive, if you don't run competitive, financially responsible and technologically relevant business you are bound to go broke in Capitalism.

https://en.wikipedia.org/wiki/Praktiker

 

[Maxpane]

Thats why i dont trust media. The one sector i myself am involved in and know about, the never got it right about it so i assume that they are wrong about the things that i dont know about as well.


For example, the case of this thread here. APTMA going on strike as per media. That is also a lie. APTMA mills are all running and i went to one today! No talk about any strike at all and here we have a thread with 100 posts discussing the strike that actually is not real to begin with.

Its much like that balakot strike

Hmm agree sir. the problem is that we cant wait for confirmation and dnt try to know about it. To bring thrill and suspense we share what we see instead of confirming the trutt. i my self is the problem beccause i accepted news without confirmation and ruin my whole day

 

[Arsalan]

Hmm agree sir. the problem is that we cant wait for confirmation and dnt try to know about it. To bring thrill and suspense we share what we see instead of confirming the trutt. i my self is the problem beccause i accepted news without confirmation and ruin my whole day

Its not only that. Sometimes a news is only for sake of propaganda and to mislead the people. This one is like that!

 

[Maxpane]

Its not only that. Sometimes a news is only for sake of propaganda and to mislead the people. This one is like that!

yeah agree sir. speculation creates disturbance and very bad for economy of the country

 

[Crusher]

There is only 1 solution for this i.e. Privatization. And this should be done ASAP.

1) Privatize all 197 loss making state owned enterprises
2) Privatize all government schools, colleges and hospitals (Government education and hospitals are garbage anyways)

Then with the money that we save, start investing and developing industries.

I have a better solution privatize the "government" also, we need a "privatized government".

 

[Reddington]

I have a better solution privatize the "government" also, we need a "privatized government".

That's even better.