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Punjab textile millers demand power tariff at Rs 8 per kwh

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LAHORE: All Pakistan Textile Mills Association (APTMA) Punjab Chairman Ali Pervaiz Malik on Tuesday demanded Rs 8 per kWh electricity tariff for the textile industry in Punjab and uninterrupted electricity supply during Ramazan.

Addressing a media conference after chairing the APTMA Punjab general body meeting attended by over 100 member mills from Lahore, Faisalabad and Multan here at APTMA House, he said that government should also continue with the relief of Rs 3 per unit under the Prime Minister’s Textile Industry package as Punjab industry was unable to operate on high energy price than other provinces.

The member mills raised industry concerns relating to the energy supply and affordability, adding that the mills would have to close down one and a half shift production, as labour would not be able to do Sehri and offer Taraweeh due to power outage in mills.

He said the Central Chairman APTMA Aamir Fayyaz and APTMA Group Leader Gohar Ejaz would lead a delegation of 50 textile millers for meeting with Finance Minister in Islamabad wherein issue of energy supply and affordability would be presented.

He apprehended, “Textile units on independent feeders will be forced to lay off workers due to the suspension of one shift production in case the government carried with observing load-shedding for industry in Ramazan.”

Ali Pervaiz expressed concern over trade deficit and said that only way forward for the government was to enable exporting industry to generate exportable surplus and earn precious foreign exchange to overcome trade deficit for current year.

The export growth achieved in the recent past would reverse if the potential to produce of the industry was disturbed due to 10 to 12 hours industry load-shedding, he added.

The per unit cost of the mills relying upon system gas and RLNG would shoot up to Rs 14 per unit as well, therefore, both the mills relying either on independent feeders or captive power plants would have to become further uncompetitive, he maintained.

APTMA Punjab Chairman demanded an immediate announcement of Prime Minister relief package to bring down electricity tariff from Rs 10.5 to Rs 8 per kWh, besides the system gas quota of 28 percent be enhanced to 50 percent so that high price of RLNG be reduced.

“The APTMA leadership will protect its members from all types of discrimination, as the industry cannot pass on cross-subsidy, inefficiencies and the financial cost of sales tax and duty drawbacks to its buyers in the international market,” said Gohar Ejaz.

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Business

ECC approves uninterrupted gas supply to export oriented industry

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ECC approves uninterrupted gas supply

ISLAMABAD: Economic Coordination Committee at its meeting here today approved the mechanism for supply of uninterrupted gas to zero-rated export-oriented industry.

The meeting chaired by Finance Minister Asad Umar approved the supply of RLNG to the export industry for three months from December this year to February next month.

According to the mechanism, the export sectors will be provided mix energy including RLNG from March to November.

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Economy

Governor, Minister discuss Ideas-2018

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KARACHI: Federal Minister for Defence Production Zubaida Jalal on Monday said that all possible steps are being taken for the success of Defence Exhibition Ideas-2018.
The Minister said this while talking to Sindh Governor Imran Ismail at the Governor House here, said a statement. Talking to the Governor, the Minister said that defense production of Pakistan is gaining popularity throughout the World because of its standard.
Sharing his view with the Minister, the Governor said that the defense production is being introduced to the World through the Defence Exhibition `Ideas’.  They also discussed the production of defense in accordance with the demands of the modern era and other matters related to the Ideas-2018.

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Business

German business delegation due on 22nd Oct.

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KARACHI: A thirty-member business delegation from Germany -representing important sectors like energy, engineering, security technology, financial services, and construction- will be on a two-day visit to Karachi, from 22ns October.
This delegation was the result of joint efforts by Bavarian Ministry of Economic Affairs, Energy and Technology; Pakistan Embassy in Berlin with support of Dr. Poetis, who is Honorary Consul General of Pakistan in Munich; the Embassy of Germany in Pakistan and the German Consulate in Karachi, President GPCCI, Qazi Sajid Ali told APP here today.
On the first day, German-Pakistan Chamber of Commerce and Industry has arranged a conference on the trade and investment opportunities in Germany and Pakistan. Sindh Chief Minister Syed Murad Ali Shah is expected to inaugurate this programme.
Then, the delegation would visit Karachi Chamber of Commerce and Industry, Trade Development Authority of Pakistan, Sindh Board of Investment, Pakistan Business Council’s secretariat and the Governor House.
Qazi said that after a long period of time, a business delegation from Germany was coming to Karachi for business discussion with Pakistani counterparts and would finalize the projects of mutual interest for the bilateral business growth. Some of the German businessmen are also interested in the joint ventures. The visit would encourage German investment here and exports of Pakistani goods to Germany.

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