Dar Invites Textile Exporters After Mills Threaten Shut Down : AsiaNet-Pakistan

Dar Invites Textile Exporters After Mills Threaten Shut Down

October 5, 2022 | | Share:

Finance Minister Ishaq Dar has summoned an important meeting to address the reservations of textile exporters.

According to a notification issued by the Ministry of Commerce Textile Wing, All Pakistan Textile Mills Association (APTMA) and other stakeholders of the textile industry have been invited to participate in a meeting on Thursday (tomorrow) on regionally competitive energy tariffs for the fiscal year 2022-23.

APTMA to Shut Down Textile Mills

Meanwhile, APTMA has also announced to shut down textile mills across the country from Saturday due to the rising power tariff.

In a statement, it said that 1,600 units have already been shut down. It added that five million employees will lose their jobs while 30 million people will be affected due to the closure of the textile industry.

The statement highlighted that the government has withdrawn competitive power rates for the textile industry. The closure of the textile industry will deal a heavy blow to domestic exports, it added.

Source: Pro Pakistani

Category: General