Asif Inam, Chairman of the All Pakistan Textile Mills Association (APTMA) has appealed to the government to give relief to the export sector in the recent increase in electricity and gas prices, report by 24NewsHD TV channel.
Addressing a press conference in Islamabad on Monday, Asif Inam disclosed that APTMA had engaged in discussions with Minister of Energy, Power, and Petroleum Muhammad Ali and Minister for Commerce, Dr. Gohar Ejaz to address the escalating power prices. However, negotiations with the government concerning energy prices did not yield a breakthrough.
Expressing his concerns, APTMA Chairman highlighted that the textile industry has made substantial investments totaling $5 billion in the country and is in dire need of immediate government attention. He also hinted at a decline in domestic textile sales, which is an alarming trend.
With a record cotton crop this year, the textile industry is poised to operate at full capacity.
Chairman Inam emphasized that the industry's production costs have surged, with energy expenses alone accounting for a significant 35% of overall costs.
Cotton production remains a pivotal aspect in sustaining the entire textile industry.
APTMA, along with other industry stakeholders, is urging the government to consider measures that will alleviate the financial strain on the sector.
Reporter: Waqas Azeem