APTMA remains worried about gas shortage
TIRUPUR: The All Pakistan Textile Mills Association spokesman has said the textile Industry has been forced to close down for 35 days, incurring loss of Rs70 billion since Gas Load Management Programme started on Dec 01, 2009.
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The spokesman said the situation has become totally out of control of the SNGPL, as it has failed to implement even the Federal Cabinet Committee on Gas Load Management decision of curtailing gas supply to the textile industry for only 2 days a week. The SNGPL mismanagement of gas supply in Punjab has forced many mills to shut down for 4 days in a week since Jan 1, 2010, resulting into huge losses to the mills and loss in potential export earnings of 1.2 billion dollars for the country till date.
The Winter Load Management by the SNGPL will end on Feb 28 but the Textile Industry has become under great financial stress, forcing to delays in banks’ payments. This crisis-like situation may lead to bank defaults in future if no immediate correction is made to it by the government, said APTMA spokesman.
