APTMA clears the air on mills closure from July 1st

 

APTMA clears the air on mills closure from July 1st

A press statement attributed to the All Pakistan Textile Mills Association (APTMA) claimed that mills had decided to shut operations from the first date of the new fiscal year as buyers were unavailable.

APTMA Patron-in-Chief Gohar Ejaz talking to Baaghi TV clarified that this happened last year too as gas tariffs expired on completion of the fiscal year 2020-21 and mills shut operations because the then government announced no new gas tariffs.

He said that mills shut operations this year also because gas and electricity tariffs expired on June 30th as no regional competitive energy tariffs were announced on July 1st.

Furthermore, all gas supply was suspended to the export industry from July 1st, Ejaz added.

APTMA leader Gohar Ejaz said that last year (2021) textiles export performed up by 4 billion dollars.

“So mills have been shut from July 1st on unavailability of gas tariff,” he maintained.