Plan to up power tariff concerns PRGMEA

KARACHI - Dawood Usman Jakhura, Zonal Chairman, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) in a press statement expressed his deep disappointment over KESCs proposal to further raise electricity charges for the next quarter. There will be a huge decline in economy if electricity rates will rise by 40%, it would be done by taking away the subsidy on electricity, he pointed out.
He observed that there is already an unprecedented raise in electricity charges during the current fiscal year, causing great hardship to the public in general and the industry in particular. He pointed out that such a move would further alleviate inflation in the country.
The cost of doing business has already rendered our textile industry uncompetitive in relation to our regional competitors. Any further burden on the export industry would have a further negative impact on a sector, which introduces Pakistani products allover the world, he said.