ISLAMABAD (HRNW) All Pakistan Textile Mills Association (APTMA) has announced to shut down textile mills across the country from Saturday, October 8 due to the rising power tariff.
In a statement, it said the textile mills will be shut down from Saturday, adding that 1,600 units have already been shut down. It said five million employees will lose their jobs and 30 million people will be affected due to the closure of textile industries
It said the government has withdrawn competitive power rates for the textile industry. The closure of the textile industry will deal a heavy blow to the domestic exports, it added.
The textile mills owners said increasing exports is very important and the only way out for the economy of the country.
They urged the government to provide electricity and gas at competitive rates to the textile industry. They said the government should also ensure continuous power and gas supply to the textile industry.
In this regard, a delegation of the APTMA will meet Federal Minister for Finance Ishaq Dar tomorrow (Thursday) in Islamabad. The APTMA delegation will be led by senior leader Gohar Ijaz and will discuss the effect on the increasing power tariff on the cost of production
Industrialists have serious concerns over recent electricity prices and said it will have an effect on the export sector. APTMA leaders said production cost has increased enormously due to current power prices and export orders are difficult to fulfill.