APTMA hails Pak Govt decision to cut power tariff
The crisis-ridden textile industry of Pakistan, which had earlier been slapped with Rs 3.63 per unit surcharges, has welcomed the December 28 announcement by Prime Minister Nawaz Sharif about reduction in the total electricity tariff by Rs 3 per unit from January 1, 2016.
Chairman All Pakistan Textile Mills (APTMA) Tariq Saud said that the reduction in tariff will go a long way towards the revival of the textile industry, which is predominantly supplied electricity through independent 11 KV feeders with nearly no loss and which was fully compliant in bills payment each month. He said that the industry which had been reeling under the imposition of the surcharges levied by the government to compensate for less collection of bills and for continuing high line losses, will now revive.
Sharif announced a cut of Rs3 in per unit tariff of electricity for industrial users and urged the exporters to translate it into increased exports for the country.
Addressing the 39th Annual Export Awards Distribution Ceremony under the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in Karachi, the Prime Minister assured that as things improved, more concessions would be made to help the industrial community.
The APTMA had taken up the case for a textile package with the government hich had acceded to the demands of imposition of regularity duty on certain imports and for facility of LTFF for the whole textile value chain. However, the issue of continued levy of surcharges whereby the electricity tariff had bloated beyond the level of energy cost in the competitor countries had not been addressed.
The APTMA Chairman appreciated the Government’s steps for supporting the cause of industry and for stemming the rapidly falling exports on account of non-competitive energy cost for the Pakistani industry.
Tariq Saud, while commending the Prime Minister’s proclamation to reduce the industrial tariff assured the government of the industry’s full support and efforts in bolstering the falling exports and for revival of the presently closed capacities in the shortest time frame