Pakistan’s export share has dropped in int’l market, APTMA tells PM

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.