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'Revoke hike in Pak petroleum prices' – PTEA
04 Feb '12
1 min read
The recent hike in petroleum prices has the Pakistan textile industry up in arms against the decision of the government.
“Petroleum prices have risen by 90 percent in the last four years and coupled with price rise in electricity and gas, manufacturing cost in Pakistan has hiked substantially, making products uncompetitive in global markets”, said the Chairman of Pakistan Textile Exporters Association (PTEA).
“This is an anti-industry decision and also comes at a time when there is a slowdown in global markets, with the potential to wreck the Pakistani economy”, Rana Arif Tauseef said.
He added by saying, “Competitors like India, China and Bangladesh were grabbing markets, which were developed by Pakistani textile exporters”.
He demanded that the government should revoke the decision in the interest of the textile industry and also the overall industrial sector at large.
“Petroleum prices have risen by 90 percent in the last four years and coupled with price rise in electricity and gas, manufacturing cost in Pakistan has hiked substantially, making products uncompetitive in global markets”, said the Chairman of Pakistan Textile Exporters Association (PTEA).
“This is an anti-industry decision and also comes at a time when there is a slowdown in global markets, with the potential to wreck the Pakistani economy”, Rana Arif Tauseef said.
He added by saying, “Competitors like India, China and Bangladesh were grabbing markets, which were developed by Pakistani textile exporters”.
He demanded that the government should revoke the decision in the interest of the textile industry and also the overall industrial sector at large.
Fibre2fashion News Desk - India
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