All major industrialists and traders’ organizations in Faisalabad have termed the Rs60 per litre increase in prices of petroleum products a serious threat to business.
Electricity and gas prices are also going to increase while the budget is yet to be presented due to which the business community of the city is suffering. Numerous industries are already on the verge of closure, and if the current government does not reduce the rising prices of petroleum products, electricity and gas, employers will take to the streets with workers.
In this regard, Mian Kashif Zia, chairman of the Pakistan Hosiery Manufacturers and Exporters Association (North Zone), said that the value-added textile sector would have to provide equal facilities as competitive countries to increase domestic exports, Electricity and gas policy measures must be continued at special rates If this is not done, not only will the industry be closed but millions of workers will also become unemployed. He made it clear that value-added textile exports should be increased to get rid of external debts to avoid the IMF’s dictation.
Similarly, Atif Munir, president of the Faisalabad Chamber of Commerce, (FCCI) said that the government will have to seriously consider our problems and all the problems in the textile sector will have to be resolved soon.
“We have no political agenda, but we want to strengthen the sinking economy by increasing domestic exports and it is important that all stakeholders be taken into confidence.” At the same time, Waheed Khaliq Ramey, chairman of the Power Looms Owners Association, said, “Our industry is also close to closure. If the present government does not reduce electricity prices, not only labourers but owners will be on the roads.”
Shakeel Ansari, chairman of the Sizing Industries Association, said that the dollar rate has doubled our raw material prices and this has made it difficult to do business. The government should immediately consult all stakeholders and announce relief for the textile industry.
Dr. Khurram Tariq, former Central Chairman PHMA said, “We are not asking the government for any subsidy on electricity and gas, but the textile sector should be given electricity and gas according to their cost.” He said that the burden of not recovering is put on our industry. This increases electricity and gas prices for the industry and the whole burden is tolerated by our industry.
Pakistan Textile Exporters Association (PTEA) Vice Chairman Ameer Ahmed said that DLTL’s notification has not yet been issued while ECC has already approved it. Therefore, the DLTL Convention should be released as soon as possible to reduce the problems in the textile sector. Former President Chamber of Commerce Syed Zia Almadar Hussain said that in the last three and a half years, our exports have increased from 18 billion to $ 32 billion. He added that if the government increases the prices of electricity and gas, it will gradually reduce our exports and get closer to bankruptcy. He said that the same business community plays a vital role in enhancing the domestic economy as the army protects the borders.
Former PHMA Central Chairman Chaudhry Salamat said that the government will have to seriously consider all these issues and all stakeholders will have to make decisions in the interest of the country by taking confidence.
He said that the value -added textile sector is not only a means of earning valuable exchange for the country but also providing employment to millions of people.