APTMA summons meeting after govt ends concessions on power bills

LAHORE: All Pakistan Textile Mills Association (APTMA) has summoned an emergency meeting next week to discuss ‘options including the closure of textile mills’ as the federal government ends concessions on electricity bills, ARY News reported on Sunday.

The distribution companies have received the notification of the Power Division which stated ending of exemption to the textile industries from the levy of electricity bills. According to the notification, the textile mills will pay Rs20 instead of Rs12 per unit in term of electricity charges.

Following the development, APTMA summoned an emergency meeting in Lahore next week to discuss various option including the closure of textile mills, sources said.

The owners claimed that it is impossible to run textile mills without receiving subsidy on power bills which had been promised by the federal government in the month of January last year.

Read: Revival of sick textile units top priority of govt: Abdul Razak Dawood

Earlier in November last year, Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood had said that the government was making all-out efforts to boost textile sector in the country.

Talking to a delegation of All Pakistan Textile Mills Association (APTMA), who called on the advisor at his office, Razak Dawood said that the government would soon release funds under the new textile policy scheme.

Liquidity crunch, access to finance, textile value addition and other issues were discussed in the meeting. The advisor assured the APTMA delegation that the government will address all their grievances on priority basis.