10 day Eid holidays to cause $800 million loss

May 5, 2021

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All Pakistan Textile Manufacturing Association has vehemently rejected the government’s decision of 10 Eid Holidays.

The National Command and Control Centre (NCOC) has announced a six- working day Holidays (May 10-15) in the country on the occasion of eid. The Eid holidays are with the explicit intention to limit the mobility of the public. During the holidays, all businesses will remain closed.

APTMA president, Mr. Gohar Ejaz has said that by closing government offices and banks for 10 days from May 8 to May 17, we will lose $ 800 million in manufacturing and exports.

A textile business owner who raised concerns said in a statement that this would result in a near-nationwide lockdown for 10 days from Saturday May 8 to Monday May 17, 2021.

“Closing the country for 10 days in a row is unacceptable because it will create many hurdles in the economy and industries, especially exporters, who will not be able to ship cargo due to the complete closure of banks, ports, customs and all other departments during excessive holidays.”

He warned that the country could not afford such an extended vacation, as it would incur billions of rupees in losses to the national executive and severely impact trade activities, especially exports. At the same time, it will negatively affect the daily wages of the country’s workers and deprive them of unnecessary profits for 10 consecutive days. The workers will not be able to feed their families, which will lead to social catastrophe. “