PESHAWAR: Khyber Pakhtunkhwa Textile Mills Association (KPTMA) has announced a strike on Monday (today) to express solidarity with the striking industrialists of Sindh against surge in gas price.

The decision was announced after a meeting of the KPTMA members with Chairman, Kamran Shah. During the meeting, KPTMA members expressed serious concern over hike in gas rates, stating that it is making industrial operations financially impossible. They emphasised the difficulty in sustaining businesses under such high costs, compelling them to consider shutting down their operations.

The KPTMA members highlighted that industries in KP have long contended with various challenges, including significantly higher transportation costs due to their geographic distance from seaports and primary markets for sourcing raw materials.

The shortage of skilled labor within KP has compelled industries to source technical expertise from other regions, incurring substantial additional expenses. The escalated cost of production within KP industries has severely hampered their competitiveness, both in local and global markets.

This concerning situation, coupled with inflated production costs, has the potential to escalate consumer prices for essential commodities, imposing burden on the general public. Furthermore, the looming threat of industry closures due to unviable operations could escalate unemployment, thereby potentially impacting regional security.

Copyright Business Recorder, 2023