960403

Cone converters

threaten shut

down from 10th

RECORDER REPORT

FAISALABAD: The paper cone converters have threatened to close down their factories from April, 10 in the wake of rising prices of raw material and refusal of textile mills to proportionately increase the prices of cones.

This was decided in an emergency meeting of the All Pakistan Paper Cone Converters Association (APPCCA), Faisalabad and Gujranwala zone held here with Mian Nazir Ahmed in the chair.

The meeting observed that the prices of board and raw material have gone up more than 70 percent in recent months but the textile mills have refused to accommodate them inspite of their best efforts. Mian Nazir Ahmed told that board was not available in the market even on cash and it was impossible for the cone converters to continue to bear huge deficit. Hence they have decided to close down their factories from April, 10.

The meeting was attended by Mukhtar Ahmed Hashmi, General Secretary APPCCA, Mian Rizwan from Lahore, Malik Hafeez from Multan, Ahmad Mansoor from Gadoon, Haji Khewa Gull from Gujranwala, Abid Shah and Mian Irshad Iqbal from Faisalabad.