Raise in gas tariff: Textile units shut down

FAISALABAD - Hundreds of textile units in and around Faisalabad were shut down in protest against the gas price-hike and discontinuation of Research and Development support facility to the exporters.

Industrial units closure was announced after an emergent meeting of Pakistan Textile Exporters Association (PTEA) held here on Friday. The textile exporters have rejected 31 per cent hike in gas tariff. The members pointed out that R&D facility was not a subsidy but the support facility was given because of the duties and taxes paid by the exporters and industry. The meeting rejected volume-based R&D as it will wipe out small and medium exporters and create monopoly of few exporters.