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.

From train rides to Reggie Bush: The best games in the USC-Notre Dame rivalry
- an hour ago

Talent, emotional intelligence and a lifetime of sacrifice have made Oscar Piastri a F1 title favorite
- an hour ago
Bangladesh parties sign reform charter, but student and leftist group stays away
- 10 hours ago

Cooper Flagg put the league on notice before he ever played an NBA game
- an hour ago
Meta to give teens' parents more control after criticism over flirty AI chatbots
- 9 hours ago

NFL buzz for Week 7: What we're hearing on the Eagles' offense, 49ers' injuries, Titans' coaching change
- an hour ago
Pakistan draw match with Australia 3-3 in Sultan of Johor Hockey Cup
- 10 hours ago

Google’s Pixel 10 Pro Fold is the first to ‘go up in smoke during a bend test,’ JerryRigEverything says
- 2 hours ago

Ugreen’s 8-port Thunderbolt 4 hub is $80 off
- 2 hours ago

PM Shehbaz inaugurates upgraded GARL of Geological Survey
- 11 hours ago

Amazon’s new name for the Fire TV Stick 4K only adds more confusion
- 2 hours ago
NHSP PUNJAB brings provinces together to strengthen data-driven primary healthcare
- 9 hours ago