According to the All Pakistan Textile Mills Association (APTMA), Pakistan’s export share in the international market has plummeted to 1.76 percent due to high electricity costs.
The APTMA stated in a letter to Prime Minister Shehbaz Sharif that Pakistan textile exports fell to $35.21 billion in FY2022-23, down from $39.59 billion in FY2021-22.
The APTMA informed the premier that the textile mills’ 50% output capacity is underutilized and that the increased cost of power will result in a further decline in exports.
According to the APTMA, India, and Bangladesh provide electricity to exporters at 6 and 8 cents per kWh, respectively, while Pakistan charges 16 cents.
Prime Minister Shehbaz Sharif has been cautioned that a lack of interest and the lack of ‘suitable’ measures will result in a further decrease in Pakistan’s textile exports.
Previously, the All Pakistan Textile Mills Association (APTMA) condemned the recent increase in gas and power costs in the FY2023-24 budget.
