Pakistan faced a sudden financial pressure. The UAE decided to take back its 2 billion dollar safe deposit from the State Bank of Pakistan. But the textile industry stepped up immediately. The All Pakistan Textile Mills Association announced that its members are considering depositing a 2 billion dollar fund with the SBP as a support measure. This means the textile industry offers govt 2 billion after UAE sudden withdrawal, and the timing could not save the day more perfectly.

APTMA Chairman Kamran Arshad made the announcement from Lahore. He said the textile industry stands shoulder to shoulder with the government and will not allow any financial difficulty to emerge. After ongoing peace talks, the association plans to meet Prime Minister Shehbaz Sharif to work out a formal solution. APTMA has always upheld the principle of putting Pakistan first, he added.

Kamran Arshad further said that Pakistan has already fulfilled all IMF conditions. Exports are rising rapidly, strengthening the country’s economic outlook. So when the textile industry offers govt 2 billion after UAE sudden withdrawal, it sends a powerful message. Pakistani businesses believe in their country. They will not let temporary setbacks derail the economy. The government now has a private sector partner ready to help. That is the kind of support money cannot buy.