Pakistan, Feb. 26 -- The All Pakistan Textile Mills Association (APTMA) on Tuesday expressed serious concerns over the deteriorating state of the textile industry, attributing the shutdown of 100 textile units nationwide to flawed government policies.

APTMA Chairman Kamran Arshad, in a statement, revealed that textile production has dropped by 40 percent, while exporters are grappling with severe cash flow issues due to excessive taxation. He noted that the Federal Board of Revenue (FBR) has withheld Rs. 182 billion in sales tax refunds, exacerbating the sector's financial struggles.

Arshad also criticized the FBR's decision to discontinue its Faster system for tax refunds, which has further worsened liquidity challenges for exporters....