The All Pakistan Textile Mills Association has sounded the alarm bells, fearing the closure of large-scale industries due to soaring energy prices.
According to the details, the All Pakistan Textile Mills Association has expressed the fear of closing down large industries in a few months. A letter has been written to Ministry of Energy, Ministry of Commerce and SIFC in this regard.
It was stated that the closure of industries would lead to job losses and increased unemployment.
The letter stated that Pakistan is losing its share in the international market, and the industry is crumbling. Electricity is being supplied to the industry at Rs. 50 per unit at the moment.
The letter from APTMA mentioned that the electricity rate per unit is higher than 18.5 cents per kilowatt-hour compared to regional countries. The prices of gas and RLNG are also doubled for the textile sector.
In the letter written by All Pakistan Textile Mills, it was mentioned that last year there was a 250% increase in the price of gas for industries.
