Pak textile exporters threaten to move overseas
Textile exporters are threatening to move their production bases to overseas if the issue of power shortage is not resolved in Karachi.
Karachi
Textile exporters in Pakistan are
threatening to move their production bases to overseas if the issue of power
shortage is not resolved in Karachi. According
to Muhammad Jawed Bilwani, Chief Coordinator, Value-added Textile Forum, the
textile exporters have formed a committee to shift the industries out of the
country due to the gas crisis and the unviable business environment. He also
said in a statement that, in the middle of the gas crisis in the country and
the view of contradictory moves by the government, the textile exporters have
formed a committee to shift the industry somewhere else.
It is believed
that the committee will negotiate with the countries that will offer better
business, have export-friendly policies, and attractive incentives for foreign
investors. It is believed that the textile exporters who were disappointed and
burdened with adverse factors were compelled to make this decision.
Karachi-based industrial zones have been informed by the Sui Southern Gas
Company limited about 170 million cubic feet per day gas shortfall. The company
also said it would face a shortfall of 70mmcfd in July. Because of this
situation, it won’t be able to offer gas equitably to all the sectors.
According to the
industrialists, this disruption of gas supply has impacted production due to
which export orders will be delayed and the domestic supply of goods will also
be affected.
Source – The News
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