The All Pakistan Textile Mills Association (APTMA) has warned the government that the survival of textile industry would be at stake if gas supply is suspended to the Punjab industries.
The Punjab Chairman S M Tanveerm stated that the country could face a loss of over US$2 billion exports and urged the government to keep a check on the fast depleting foreign exchange reserves and the depreciating currency. He also urged the government to provide uninterrupted gas and electricity supplies to the Punjab-based textile industry, thereby enabling it to perform to its full potential.
He was apprehensive over the layoffs, bankruptcies, non-performing loans and a loss of opportunity to earn precious foreign exchange reserves that can emerge is case gas supply is suspended. â€œThe industry will also lose the opportunity to recover from its sluggish trends,â€ he stressed.
â€œPrudent demand-supply management is imperative. There should be no change in the 40 percent quota of the energy-intensive textile industry during the winter season to keep intact its operations,â€ he said.
He also emphasised the domestic consumers to use gas prudently in the winter season to keep the industry running. The government should come up with a conservation plan and convince the consumers to sacrifice in the larger interest of the national economy.
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