APTMA warns of ‘storm of unemployment’ after hike in power tariff

All Pakistan Textile Mills Association (APTMA) has expressed concern over the increase in electricity prices, adding that instead of solving economic problems, further power hike will aggravate economic woes, reported 24NewsHD TV channel.

APTMA in a press release issued on Thursday urged the government to start large-scale reforms in power sector to curb inefficiencies in the energy sector.

Textile sector leaders warned that hike in electricity prices will shut down industries which will hurt exports. APTMA further complained that after increase in the cost of electricity, there will be a storm of unemployment in the country.

Textile industry’s apex body made it clear that the recovery of capacity charges, line losses from customers was illegal, adding that compared to regional countries, electricity was twice as expensive for industries in Pakistan.

APTMA claimed that industrial consumers were bearing burden worth Rs222 billion of domestic consumers through cross-subsidy. Textile sectors traders suggested the government that by eliminating cross-subsidies, industries can be steered out of economic crisis. Aptama demanded that the government should try to increase domestic exports by facilitating the industries.

Reporter: Waqas Azeem