close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
January 29, 2020

APTMA warns of mills’ closure

Business

January 29, 2020

LAHORE: The All Pakistan Textile Mills Association (APTMA) Punjab Chapter has warned that several mills would close down within a few months due to arbitrarily imposition of surcharges in the power bills of export industries, a statement said on Tuesday.

Addressing a press conference, APTMA Punjab Chapter Chairman Adil Bashir regretted the government has levied surcharges, which took the power tariff up from Rs13 to over Rs19.

Textile mills would be unviable at this high tariff, he said, adding that the exports that were gradually increasing would nosedive in the next few months, if the surcharges were not withdrawn. The current power tariff is much higher than the power tariff in competing economies.

Bashir said that there would be visible job losses in the textile sector as a result of this measure.

All investment decisions have been put on hold and, if the government failed to withdraw its decision, the investment plans would be shelved, he added.