KARACHI: The All Pakistan Textile Mills Association (APTMA) on Tuesday welcomed the government’s decision to reduce prices of petroleum products, stating it would provide some relief to businesses. However, APTMA Chairman Muhammad Yasin Siddik said the industry was expecting a decrease of at least 5% in the prices after rupee appreciation, according to an APTMA statement. He said that the cost of doing business in Pakistan has increased to an alarming level, making the country’s products uncompetitive in the international market. “We expect the government to take important decisions to boost the industrial sector.” Electricity, gas tariff and the discount rate remain higher than competitors in the region. “As of today, the tariff for one unit of electricity in Pakistan is $0.17, $0.13 in India, $0.09 in Bangladesh and Sri-Lanka.”
Published in The Express Tribune, April 2nd, 2014.
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