APTMA seeks uniform gas price
To restore viability of the industry in order to boost exports and create sustainable jobs in the country
PHOTO: FILE
LAHORE:
All Pakistan Textile Mills Association (Aptma) Punjab Chairman Adil Basheer has sought uniform energy prices across the country to restore viability of the industry in order to boost exports and create sustainable jobs in the country. Speaking at a press conference at the Aptma Punjab office on Friday, he said the industry was already facing a liquidity crunch, leading to the closure of 100 mills and more are on the verge of closure due to prevailing uncertainty. Already, the Federal Board of Revenue (FBR) has withheld Rs200 billion worth of tax refunds of the industry, he said, adding Sui Northern Gas Pipelines (SNGPL) has billed the industry notified re-gasified liquefied natural gas (RLNG) price of $12.54 per million British thermal units (mmbtu) instead of $6.5 per unit for October 2018. “The industry cannot pay the hefty bills and faces serious liquidity constraints as millions of tax refunds of the industry are stuck with the government under DLTL, sales tax and other textile policies/schemes.
Published in The Express Tribune, November 10th, 2018.
All Pakistan Textile Mills Association (Aptma) Punjab Chairman Adil Basheer has sought uniform energy prices across the country to restore viability of the industry in order to boost exports and create sustainable jobs in the country. Speaking at a press conference at the Aptma Punjab office on Friday, he said the industry was already facing a liquidity crunch, leading to the closure of 100 mills and more are on the verge of closure due to prevailing uncertainty. Already, the Federal Board of Revenue (FBR) has withheld Rs200 billion worth of tax refunds of the industry, he said, adding Sui Northern Gas Pipelines (SNGPL) has billed the industry notified re-gasified liquefied natural gas (RLNG) price of $12.54 per million British thermal units (mmbtu) instead of $6.5 per unit for October 2018. “The industry cannot pay the hefty bills and faces serious liquidity constraints as millions of tax refunds of the industry are stuck with the government under DLTL, sales tax and other textile policies/schemes.
Published in The Express Tribune, November 10th, 2018.