During their meeting with Pakistan’s prime minister Shehbaz Sharif, All Pakistan Textile Mills Association (APTMA) leaders urged for a solution to finalize the competitive gas and electricity tariffs for export sector and restore gas to the captive power-run industry. The PM also urged concerned authorities to review the loadshedding policy of gas supply for dependent factories as the country’s economic stability depended on solutions to the problems faced by the industrial sector.
During the meeting, APTMA representatives briefed the PM about continued growth in textile exports and problems that are hampering the sector’s further growth. APTMA delegates informed, Pakistan’s textile exports grew to their highest levels of during FY22. This is 43 per cent, 26 per cent and 90 per cent higher than the FYs 2018, 2021, and 2010, respectively.
In June alone, Pakistan’s textile exports reached $1.7 billion. The zero-rated export industries, including textiles, used to earlier have a competitive gas and electricity tariff annually under a policy that ended on June 30, said APTMA delegates.
The delegates also requested the Sharif to introduce a five-year textile policy for a subsidized and regionally competitive gas and electricity tariff for the export sector.