AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

Textile Industry is already struggling and running at almost 50 per cent capacity, and cannot sustain further shocks, said Azhar Majeed Sheikh, Chairman, Khurrianwala Industrial Estate Association.
Talking to newsmen, he said that textile has always been considered as an engine of growth as it earns $11 billion precious Foreign Exchange for the country besides providing direct employment of over 40 per cent of total work force. But unfortunately it has always been neglected when it needed any support whether financial or infrastructural, he added.
Chairman, Khurrianwala Industrial Estate Association said that Khurrianwala Faisalabad has about 40 value added textile processing units, which alone contribute about 2 billion dollars in Foreign Exchange and provide employment to over 200,000 families directly and 150,000 families indirectly. The local gas authorities closed Khurrianwala Industrial Zone gas supply for 5 to 6 days where as Faisalabad Zones 1-4 were closed for 5 days.
General Manager SNGPL Faisalabad region informed that in the 2nd round of gas shedding, the 5 Zones to be merged into 2 Zones and each Zone would be closed for 7 days after working for 7 days only. In the larger interest of the country, Azhar Majeed Sheikh suggested that the export based industry of Khurrianwala and Faisalabad should be exempted from gas shedding as they only consume 30 MMCF gas while they bring over $2 billion Foreign Exchange besides providing massive employment.
The foreign customers; who placed Christmas orders besides other regular orders; would force us to make air shipments or desert us being unreliable vendors and would also file heavy claims for non-shipments in time, he added. Azhar Majeed Sheikh said that the Textile Industry is already struggling and running at almost 50 per cent capacity, and cannot sustain further shocks.
Meanwhile, in a letter to Dr Mirza Ikhtiar Baig, Federal Advisor on Textile, Azhar Majeed Sheikh pointed out that that after completing 1st phase of load shedding; where Khurrianwala Industrial State Zone 5 would be closed for 6 days instead of 5 days by Zones 1-4 of Faisalabad; in the second round the 5 Zones to be reduced to 2 Zones and each Zone will be closed for 7 days after operating for 7 days only. The export based industry of Faisalabad cannot survive with 7 days working and 7 days stopping as it will result in a lot of air shipments; which the Industry cannot afford under the present depressed world market.
Azhar Majeed Sheikh appealed to the Textile Ministry and Prime Minister, kindly try to get Export Industry of Faisalabad; which earns $3 billion and provides direct and indirect employment to about 3,00,000 families; exempted from load shedding. In case it is inevitable to decline foreign exchange earning and employment, then we can live with working 5 days and closing 2 days in a week, he concluded.

Copyright Business Recorder, 2008

Comments

Comments are closed.