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Delay in energy notification hits exports in Punjab: APTMA

24
Nov '18
Delay in energy notification hits exports in Punjab: APTMA
The ongoing uncertainty over an inordinate delay in the issuance of notification for a regionally competitive energy price—gas at $6.5 per MMBTU and electricity at 7.5 cents per kWh—by the government has seriously affected growth in exports, production and investment, according to Adil Bashir, Punjab chairman of the All Pakistan Textile Mills Association (APTMA).

In a meeting of the Economic Coordination Committee on September 27, the Pakistani Government had announced to provide energy supply to the textile exporting units in Punjab, both for captive and processing use, at regionally competitive prices to make it viable and to revive the closed capacity there.

In October 2018, the export of cotton yarn and cotton cloth have dropped by over 39 per cent and 24.11 per cent respectively against the corresponding period last year. Also, the overall exports of textile and clothing have declined by 0.21 per cent during the same period, according to Pakistani media reports.

The industry in Punjab cannot survive under these circumstances as 30 per cent of the production capacity across spinning, weaving and processing sectors with an export potential worth $4 billion has been closed down due to the high cost of business in Punjab, Bashir added. (DS)

Fibre2Fashion News Desk – India


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