LAHORE: All Pakistan Textile Mills Association (APTMA) on Wednesday said Pakistan’s exports share in the international market has dropped to 1.76 per cent due to expensive electricity, ARY News reported.
In a letter penned to PM Shehbaz Sharif, the APTMA said Pakistan textile exports dropped to $35.21 billion in FY2022-23 as compared to $39.59 in FY2021-22.
The APTMA told the premier that the 50pc production capacity of the textile mills is not being utalised and added expensive electricity rate will result in a further decrease in exports.
Read more: APTMA rejects hike in gas, electricity prices in budget
The APTMA noted that India and Bangladesh are providing electricity to the exports at 6 and 8 cents, respectively, while the rate in Pakistan is 16 cents.
Prime Minister Shehbaz Sharif has been warned that lack of interest and unavailability of ‘appropriate’ policies will end in a further decline in Pakistan’s textile exports./
Earlier, All Pakistan Textile Mills Association (APTMA) rejected the recent hike in gas and electricity prices in the FY2023-24 budget.
