LAHORE- The All Pakistan Textile Mills Association (APTMA) Punjab Chairman Adil Bashir has thanked Prime Minister Imran Khan for agreeing to withdraw notification of surcharges and taxes on the electricity tariff of 7.5 cents per unit for the export-oriented industry.
He said a delegation of APTMA under the leadership of central Chairman APTMA Dr Amanullah Kassim Machyara and Group Leader APTMA Gohar Ejaz held a meeting with the government representatives a day earlier.
The meeting was chaired by Commerce Minister Abdul Razzak Dawood while Federal Minister for Economic Affairs Hammad Azhar, Minister for Power Umar Ayub Khan, Special Assistant to Prime Minister on Petroleum Nadeem Babar and Governor Punjab Ch Muhammad Sarwar were also present on the occasion.
He said the government representatives extended a patient hearing to the concerns of the export-oriented industry and took a decision that would be helpful in boosting exports, especially when the international buyers are looking towards Pakistan to meet their garments requirements.
He pointed out that the export-oriented industry circles have taken a deep sigh of relief over the development, as the government would now charge only 7.5 cents per unit tariff to them.
He said the conversion cost of electricity is 40 percent of the total production cost and the present step of the government would bring Pakistan’s export-oriented industry at par with the regional competitors.
According to him, the garment sector exports had registered a growth of 35 percent during the financial year 2019 because of the availability of electricity at regionally competitive rate. The industry would once again grew by leaps and bounds in the months ahead, especially when the international buyers are looking towards Pakistan in the region, he added.
The industry would achieve the target of $25 billion textile sector exports by 2025, he said and added that the industry would be operational on its full capacity to take the emerging opportunity in the field of textile sector exports. The energy cost was proving a central impediment to the growth of exports, which the government has removed in the larger interest of the country’s exports.
He has further expressed the hope that the government would continue with the tariff of 7.5 cents per unit to strengthen exports, create jobs and attract new investment in the country. —PRESS RELEASE
