Pakistan Hosiery Manufacturers & Exporters Association (PHMA) on Friday feared the hike in electricity tariff will leave the textile sector "uncompetitive" in global market. "Another increase in electricity prices from August 1, would render this vital sector's exports to become most uncompetitive in global market," feared Central Chairman PHMA, Javed Bilwani.
He termed the government's move to increase electricity prices unjustified after paying Rs 480 billion to clear circular debt, and said the government should have not increased the tariff too immediately. He urged the government to step up against the electricity theft and overcome power shortage problem to provide the people with uninterrupted power supply at affordable rates. "The government seems to be powerless to stop this theft," he criticised.
He suggested government should install prepaid electricity metres with a view to control power theft and non-payment of electricity bills. Bilwani said sudden increase in electricity tariff along with several other adverse factors will increase the cost of business for the textile sector and leave it uncompetitive against India, China, Bangladesh, Sri Lanka and others. He appealed to the Prime Minister Nawaz Sharif to review the decision of increase in electricity tariff and issue immediate instructions to withdraw the rise to help textile sector to boost its manufacturing and export to maximum foreign exchange for the nation.