50% of textile companies may close in the coming weeks
Islamabad: With more than 50% of textile and apparel companies at high risk of shutting down in the coming weeks, the All Pakistan Textiles Mills Association (APTMA) has called on the federal government to review energy rates to make textile exports competitive in the international market. The international competitiveness of Pakistan’s textile and apparel exports is constantly being eroded by persistently rising energy prices that are, on average, more than double those in competing countries. Moreover, electricity prices for industrial consumers are at 16.7 cents/kWh and natural gas price is increasing to Rs 2,950/MMBtu from Rs 2,200/MMBtu currently, a notable
