Faisalabad: Faisalabad Chamber of Commerce and Industry (FCCI) President Engineer Suhail Bin Rashid has expressed his relief at the Ministry of Petroleum and Natural Resources’ decision to withdraw a summary on suspending gas supply to textile industries in Punjab during the peak winter months.
In a statement issued yesterday, Rashid said that GSP Plus Status is likely to be granted by European Parliament from January 01, 2014 which would be a unique opportunity for Pakistan.
He said that gas is an essential input for textile industries without which the production process is completely halted and no alternative fuel is either feasible or available to use in textile processing.
He said that Pakistan has already suffered loss to the tune of $1 billion due to being a front line partner in the war-on-terror and the grant of GSP Status Plus will be helpful for the revival of the economy.
He said that uninterrupted supply of electricity to the industries is also imperative to operate on 24 hours basis, utilizing full installed capacity and providing employment to the workforce in the area.