LAHORE: All Pakistan Textile Mills Affiliation (APTMA) has summoned an emergency assembly subsequent week to debate ‘choices together with the closure of textile mills’ because the federal authorities ends concessions on electrical energy payments, ARY Information reported on Sunday.
The distribution corporations have acquired the notification of the Energy Division which said ending of exemption to the textile industries from the levy of electrical energy payments. In response to the notification, the textile mills pays Rs20 as a substitute of Rs12 per unit in time period of electrical energy expenses.
Following the event, APTMA summoned an emergency assembly in Lahore subsequent week to debate varied choice together with the closure of textile mills, sources stated.
The house owners claimed that it’s unattainable to run textile mills with out receiving subsidy on energy payments which had been promised by the federal authorities within the month of January final yr.
Learn: Revival of sick textile models high precedence of govt: Abdul Razak Dawood
Earlier in November final yr, Adviser to Prime Minister for Commerce and Funding Abdul Razak Dawood had stated that the federal government was making all-out efforts to spice up textile sector within the nation.
Speaking to a delegation of All Pakistan Textile Mills Affiliation (APTMA), who known as on the advisor at his workplace, Razak Dawood stated that the federal government would quickly launch funds beneath the brand new textile coverage scheme.
Liquidity crunch, entry to finance, textile worth addition and different points have been mentioned within the assembly. The advisor assured the APTMA delegation that the federal government will deal with all their grievances on precedence foundation.