Power Loom: Industry demands bailout package

MULTAN: All Pakistan Power Looms Association (APPLA) on Thursday threatened to close their business and sell out their machinery in scrap if the government fails to announce a bailout package for the industry. According to the APPLA, 70% of power looms have been shut down due to expensive electricity and unaffordable price of yarn. The association demanded that the government withdraws the rebate on the export of cotton yarn, so that the industry is able to survive. Additionally, they asked for a separate tariff rate which should not be more than Rs6 per unit. Meanwhile, the APPLA would hold a national convention later during which they would give a deadline for the acceptance of their demands.

Published in The Express Tribune, March 10^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.