PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

37-H, BLOCK-6 P.E.C.H.S., KARACHI-PAKISTAN

TEL: 0092-21-34522769, 34522685, 34544765 FAX: 0092-21-34543774

E-MAIL: info@phmaonline.com URL www.phmaonline.com

Ref. No. PHMA/Cir-039/2015

Dated: 28^th April, 2015

TO ALL MEMBERS OF THE ASSOCIATION

MEASURES TO PROTECT PAKISTANI EXPORTERS FROM THE BANKRUPTCY OF EU IMPORTERS AND BANKS

It is reliably learnt that due to recession prevalent in some EU Countries, some banks and importers over there are facing bankruptcy or are on the verge of bankruptcy.

In the best interests of all our valued members, we request such members who have been affected due to the above or their funds are blocked and not paid by the importers in EU Countries to inform the Association giving therein contact details of their Defaulting Buyers and Banks as we are taking up the issue with the Ministry of Finance.

Your prompt action and reply in this matter is awaited.

Thanking you,

With best regards,

Saleem Parekh

Central Chairman