Dar assures to explore all options for provision of gas: Punjab textile units express inability to benefit from GSP-plus

Finance Minister Ishaq Dar has promised Punjab-based textile industry that the government would resolve their problem of tax refund and gas supply after the industry expressed inability to take advantage of the GSP Plus status. Sources said the industry has conveyed to the Finance Ministry that the country''''s exports are declining and the situation would further aggravate if gas shortages persists. The Finance Ministry held a meeting with the business community of Lahore, Faisalabad, Multan to discuss gas supply situation to the industry.
A participant of the meeting on condition of anonymity said the industry has also offered that it would be in a position to purchase extra cotton from the market and the Trading Corporation of Pakistan (TCP) would not require lifting stocks from the market to stabilise the price if gas was supplied to them. Finance Ministry reportedly assured the industry that all options would be explored to provide them gas, official added.
According to the official another meeting between government and industry would take place within two weeks on the issue. Earlier, Ishaq Dar on Tuesday chaired a especially convened ministerial meeting to evaluate gas supply situation in the country. The meeting made an overall appraisal of the situation in the wake of the forthcoming IMF review. The meeting reviewed overall foreign exchange position and floor on the net international reserves besides other benchmarks and noted the need to increase the country''''s exports to ease pressure on the external account, an official stated.
The meeting discussed gas supply to domestic, commercial and industrial sectors with a focus on carefully managing gas supply during winter in view of the considerably enhanced demand. Dar said while the government wanted to facilitate domestic gas consumers, due attention would also be paid to the industrial sector which was the backbone of the national economy.
The meeting was informed by Minister for Petroleum and Natural Resources that LNG supply would commence from the first quarter of next year which would be utilised for the most efficient gas-based power plants. According to a statement a delegation of businessmen from Lahore, Faisalabad and Multan accompanied by Minister for Textile Industry, Abbas Khan Afridi, called on the Federal Minister for Finance.
The delegation representing All Pakistan Textile Mills Association of Pakistan (APTMA) and Pakistan Textile Exports Association (PTEA) while discussing various issues with the Finance Minister appreciated the present government for improving power supply to the industry.
They however expressed apprehensions about the supply of gas to industrial concerns and emphasised its equitable distribution. The Finance Minister assured that the matter would be given due consideration and an amicable solution would be arrived at. The delegation also discussed issues regarding refund of advance sales tax with the minister. The delegation assured the minister that if their problems were resolved by the government like previous year, they would be able to get the maximum benefit of the GSP Plus status.
The Finance Minister, in view of requests made by the delegation directed the officials concerned to issue notifications regarding amenities promised to the business community in the budget. The minister said, "We shall fulfil our promises made to the industry in the budget FY 2014-15."
The delegation also drew attention of the Finance Minister to the issue of Textile Policy. The Finance Minister asked the Secretary Textile Industry to put up the Textile Policy draft in the next ECC meeting. The meeting was attended by Federal Minister for Water and Power, Khawaja Mohammad Asif, Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi and senior officials of the Finance Ministry and Ministry of Textile Industry.