System gas for industrial sector: FCCI for restoration of life saving quota

Complete suspension of minimum life saving quota of system gas for industrial sector of Punjab will be a severe blow to the staggering textile sector which was apparently determined to regain the confidence and give a quantum jump to the national exports. Chairing "FCCI high powered committee on textile issues and recommendations" senior vice president Faisalabad Chamber of Commerce and Industry said that the foreign exchange earnings and labor intensive textile sector was in deep crisis since last many years.
However after mutual understanding of government and exporters, a new viable strategy was evolve to incentivize the dwindling textile sector. He said that as a result of the serious efforts of the both parties, the export started picking up and a minor increase in export during last three months is indicative of the resilient textile sector.
He lamented that as the textile sector was fighting for its survival suddenly the minimum life saving quota of system gas has been withdrawn, adding additional burden of 100 percent costly RLNG, which will increase the cost of doing business and neutralize the benefits doled out to the dwindling textile sector through speedy payments of refund claims and incentives made available under the textile package.
Engineer Muhammad Saeed Sheikh, Chairman of the committee said that the exporters generally work out the cost of their exportable products on the bases of existing prices of different inputs. The sudden increase has completely eroded their profitability and the business of export has become an unprofitable job.
He said that this sudden closure of gas has also made it impossible for the industrialists to continue their production line or fulfill their foreign commitments with negative profit just to keep themselves alive in the international markets. He further said that this step will force industrialists to close down their units and come on the road along with workers.
He warned that any such situation will be detrimental to the national economy. He has requested the Prime Minister Shahid Khaqan Abbasi to immediately intervene in this situation and restore the life saving quota of the industrial sector of Punjab.