Chairman All Pakistan Textile Processing Mills Association (APTPMA), Engr Rizwan Ashraf, has expressed satisfaction over the decision of continuation of Rs3 kW/h subsidy in the price of electricity for five export-oriented sectors and hoped that this action would boost our exports and national economy.
Elaborating, APTPMA Chief referred to a news item appearing in a section of the press wherein it was reported that Economic Coordination Committee (ECC) has finalised plan of rationalisation of power tariff with likely average increase of Rs1.05 per unit and a minimum increase of 78 paisas per unit kW/h for industrial consumers of all categories.
He appreciated the ECC decision of about 50 percent reduction in electricity prices from Rs10.35 to Rs5.35 kW/h for agriculture tube wells and expressed satisfaction on the decision of continuation of Rs3 kW/h subsidies for five export oriented industries/sectors with the assurance that the cost of electricity will not exceed 7.5 cent/kWh.
On decision of increase of 78 paisas per unit for general industries, he said it would hurt the textile industry also at this time, however, hopefully this increase will be redeemed in coming years in shape of revival of our industry and economy.
Concluding, the APTPMA Chief appreciated the Prime Minister Imran Khan, Finance Minister Asad Umer and his team, for their efforts for revival of textile industry and hoped that it would brighten the path of national reconstruction and further strengthen our industry and economy.
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