APTMA rejects hike in gas, electricity prices in budget
- By Web Desk -
- Jun 13, 2023
LAHORE: All Pakistan Textile Mills Association (APTMA) has rejected the recent hike in gas and electricity prices in the FY2023-24 budget, ARY News reported.
According to the statement released by APTMA, said mills cannot be operated on the provision of electricity at 16 cents. “Punjab mills can be shut down from July 1.”
The statement further said that APTMA cannot export goods at the new rate and demanded the provision of electricity at 8 cents as being provided to the other countries of the region.
Thousands of textile workers will be unemployed as Pakistan’s exports in May-June already recorded 30pc decrease.
Read more: Govt prioritised to enhance exports in budget: Ishaq Dar
Earlier, the patron-in-chief of the All Pakistan Textile Mills Association (APTMA) Gohar Ejaz warned that approximately 10 million textile workers will be unemployed in Punjab.
He asked PM Shehbaz Sharif to adopt emergency steps as the country is facing a massive drop in exports. Ejaz stated in his letter that the textile exports increased up to 55% in the recent two years due to competitive energy rates.