KARACHI: The All Pakistan Textile Processing Mills Association (APTPMA) has expressed surprise over a sudden drop in the supply of hydrogen peroxide (HP) in the country, saying it is hurting the textile industry.
Value-added textile exporters, who are one of the major consumers of HP, have also voiced concern over its “artificial price hike” and shortage in the domestic market, according to a press release.
Domestic manufacturers of HP have reduced supplies which has created panic amongst APTPMA members who are one of the major consumers of the product.
“This step, which appears to have been taken at the behest of local manufacturers, is a gross breach of the universally acclaimed norms of monopoly and cartels; it is likely to have devastating repercussions for the national economy,” the association said.
APTPMA Central Chairperson Saleem Parekh said HP was used as a basic raw material by the textile processing units and its shortage would further escalate prices and hurt industries.
“The shortage of HP will adversely affect exports of textile fabrics/garments and deprive the country of foreign exchange to the tune of billions of rupees; this may also cause the closure of many textile units,” he said.
Parekh sought permission of the Ministry of Commerce for the import of the commodity for industrial use at zero duty until domestic supplies came back on track.
Published in The Express Tribune, March 7th, 2018.