The Pakistani government has reached a mutual consensus with textile exporters to address their concerns and also ensure that no additional financial load is borne by the power and finance divisions for current and next financial year combined, stated Hammad Azhar, Minister for Economic Affairs.
According to Pakistani media reports, it was agreed by both the sides that the government would provide a maximum of Rupees 20 billion total subsidy for power and petroleum, in the form of cross subsidy and/or allocation, in the next year’s budget.
Adil Bashir, Chairman, All Pakistan Textile Mills Association (APTMA), Punjab had urged Prime Minister Imran Khan to review the decision of add-ons and surcharges that has raised power tariff to 70 per cent retrospectively for the export-oriented industry.
