January 02, 2025 (MLN): The Pakistan Textile Council (PTC) has issued a pressing appeal to the government to reconsider the anticipated increase in gas prices for captive power plants (CPPs) to over Rs4,000 per Metric Million British Thermal Unit (MMBtu).
The aforementioned appeal was issued under the leadership of Chairman Fawad Anwar, as per the press release issued today.
This proposed hike poses a significant threat to the textile and apparel sector, a cornerstone of Pakistan's economy.
Anwar shared that the textile sector, a cornerstone of Pakistan's economy, relies heavily on captive power plants for consistent and cost-effective energy supply.
The proposed gas price increase would exacerbate production costs, undermining the industry's ability to compete in international markets.
Anwar emphasized, "Escalating energy costs are already a major challenge for our industry".
"Further increases could lead to factory closures, job losses, and a significant decline in export revenues", he added.
The PTC urges the government to reconsider the proposed gas price hike for CPPs.
Anwar stated, "We appeal to policymakers to engage in dialogue with industry stakeholders to find a balanced solution that safeguards both the economy and the livelihoods dependent on the textile sector."
The PTC remains committed to working alongside the government to address these pressing challenges
It is imperative to implement policies that ensure the textile sector's sustainability and its pivotal role in driving Pakistan's economic development.
