ANL 28.45 Decreased By ▼ -1.10 (-3.72%)
ASC 19.69 Decreased By ▼ -0.29 (-1.45%)
ASL 24.45 Increased By ▲ 0.05 (0.2%)
BOP 8.17 Decreased By ▼ -0.09 (-1.09%)
BYCO 9.80 Decreased By ▼ -0.24 (-2.39%)
FCCL 21.88 Decreased By ▼ -0.07 (-0.32%)
FFBL 26.60 Decreased By ▼ -0.40 (-1.48%)
FFL 20.05 Increased By ▲ 0.72 (3.72%)
FNEL 8.39 Decreased By ▼ -0.03 (-0.36%)
GGGL 24.90 Decreased By ▼ -0.26 (-1.03%)
GGL 41.69 Decreased By ▼ -1.91 (-4.38%)
HUMNL 6.81 Decreased By ▼ -0.11 (-1.59%)
JSCL 20.60 Decreased By ▼ -0.90 (-4.19%)
KAPCO 39.00 No Change ▼ 0.00 (0%)
KEL 3.82 Decreased By ▼ -0.01 (-0.26%)
MDTL 3.39 Decreased By ▼ -0.13 (-3.69%)
MLCF 43.05 Decreased By ▼ -0.45 (-1.03%)
NETSOL 149.30 Decreased By ▼ -7.70 (-4.9%)
PACE 7.12 Decreased By ▼ -0.08 (-1.11%)
PAEL 32.05 Decreased By ▼ -1.23 (-3.7%)
PIBTL 10.86 Decreased By ▼ -0.09 (-0.82%)
POWER 8.95 Decreased By ▼ -0.11 (-1.21%)
PRL 22.80 Decreased By ▼ -0.30 (-1.3%)
PTC 11.66 Decreased By ▼ -0.22 (-1.85%)
SILK 1.77 Increased By ▲ 0.05 (2.91%)
SNGP 49.70 Decreased By ▼ -1.04 (-2.05%)
TELE 15.50 Increased By ▲ 0.33 (2.18%)
TRG 154.43 Decreased By ▼ -5.82 (-3.63%)
UNITY 40.00 Decreased By ▼ -0.55 (-1.36%)
WTL 3.47 Increased By ▲ 0.04 (1.17%)
BR100 5,043 Decreased By ▼ -50.24 (-0.99%)
BR30 25,215 Decreased By ▼ -494.66 (-1.92%)
KSE100 47,055 Decreased By ▼ -257.04 (-0.54%)
KSE30 18,837 Decreased By ▼ -126.39 (-0.67%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
23,295
8624hr
Pakistan Cases
1,024,861
4,53724hr
7.8% positivity
Sindh
377,231
Punjab
355,483
Balochistan
30,162
Islamabad
86,945
KPK
143,213

KARACHI: The patron-in-chief of All Pakistan Textile Mills Association (APTMA) Gohar Ejaz asked the government for continuation of Regionally Competitive Tariffs of $6.5/mmbtu of Gas/RLNG and 7.5 cents / kWh of electricity.

“On our request Imran Khan’s government reposed its confidence in the textile industry, providing the government’s complete support,” he said.

As a result, Pakistan’s Textile Exports foresees to increase considerably i.e., $16.5 billion during FY21 in comparison to the exports in FY18 which were $13.5 billion and will continue to grow up to $20 billion in June 22, he said. Making a total of $27 billion in exports in June 21 and $30 billion in June 22, he added.

He said Regionally Competitive Energy Tariffs policy proposed by Pakistan Institute of Development Economics (PIDE) has played a vital role in the current year’s exports and is critical to sustaining enhanced exports, employment and bring in new investment. Textile industry has capitalized on the given incentives to help the government achieve the ultimate aim of export maximization, job creation and the realization of economic prosperity. Pakistan’s export industries (including textiles) witnessed an exceptional growth of 9 percent in the first nine months of FY21. The increase in export demonstrates the competitiveness of Pakistan’s exports –when inputs are provided at regionally competitive prices, exports were achieved despite an unfavourable international environment. “The industrial electricity tariff of our competitors is much lower than Pakistan making us uncompetitive in the increasing market competition,” he said. “Our objective to become an export ‘powerhouse’ cannot be achieved until power tariffs are revised to a competitive and stable level.”

Industry fears that the power sector will not be able to deliver on a sustained stable and competitive basis which will negatively impact market sentiments. Competition is the key principle for the development and expansion of the industrial market.

Copyright Business Recorder, 2021