According to Pakistan Textile Exporters Association, due to energy crisis, 50 spinning mills, 10 processing mills, while hundreds of weaving units have already closed down.


Islamabad: Due to 26% increase in basic electricity tariff and 18% increase in quarterly tariff in three months, the crisis of textile industry has intensified.
The Central Power Purchasing Agency (CPPA) has spread further frustration in the industry by hinting to increase the tariff by another Rs7.13 on account of fuel adjustment.
According to Pakistan Textile Exporters Association, due to energy crisis, 50 spinning mills, 10 processing mills, while hundreds of weaving units have already closed down. The textile mills which are partially running have also started shutting down in the current situation.
It is pertinent to note that textile exporters are already facing severe shortage of capital due to delay in payment of refunds that have been pending for years, while the cost of production has more than doubled due to depreciation of rupee and high interest rates of banks.
In these circumstances, Pakistan has been left behind in the race of competition from other countries in the region and the industry has also seen a significant decrease in getting export orders from abroad.
Apart from this, due to the lack of reforms in the energy sector, there is growing frustration in the industry. The industrialists say that it is very important to continue supplying electricity and gas at competitive rates to the export industry, especially the textile sector, for economic stability in the country.
Along with this, structural reforms are also necessary to pave the way for new investments and promote industrialization in the country so that the journey of economic growth can be continued by reducing the cost of production, they added.

Pakistan, Egypt discuss regional security, defense cooperation
- 12 minutes ago

Federal cabinet approves ban on religious political party TLP
- 4 hours ago

Trump imposed Ukraine-related sanctions on Russia over the war
- 13 hours ago

The leaked Young Republican group chat points toward a bigger problem
- 15 hours ago

PCB announced White-ball squads named for South Africa and tri-nation series
- 12 hours ago

US criticizes Israeli for move to annex occupied West Bank
- 11 minutes ago

Trump’s $230 million cash grab, briefly explained
- 15 hours ago

How the Supreme Court placed ICE above the law
- 15 hours ago

Pakistan,Poland agree to boost trade, strengthen bilateral ties
- 5 hours ago

Pakistan can help bridge differences between the US and China, pak ambassador
- 13 hours ago

Pindi Test: South Africa beat Pakistan by 8 wickets,series level by 1-1
- 9 hours ago

Miankina amin’ny ranomasina izy ireo mba hivelomany. Saingy ankehitriny, miharava ny aina velona ao an-dranomasina.
- 6 hours ago