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Aptma dissociates from FPCCI

SHAHID IQBAL

KARACHI: The All Pakistan Textile Mills Association has disassociated itself from the Federation of Pakistan Chambers of Commerce and Industry.

Sources said that after a long-standing dispute over several issues with the FPCCI, Aptma has decided to dissociate itself from the Federation.

"The far-reaching decision was taken in the meeting of the central managing committee held in Lahore on Tuesday," Aptma sources said.

Aptma had difference with the FPCCI on different issues since long, but it came to a head when the FPCCI issued show-cause notices to its members a couple of days back.

"Resignations of the representatives of Aptma have been sent today", sources said on Wednesday.

Aptma is the biggest and richest trade organisation of the country and its decision to dissociate from the FPCCI will cause great impact on the future of the FPCCI.

Some trade leaders who knew about the decision said that a number of trade bodies have reservations about the FPCCI and they may adopt the same line as Aptma.

Aptma sources said that so far the association was handling all its issues alone, without the help of FPCCI.

"This will give us more independence and our functioning will be more effective," said a former office-bearer of Aptma.