Summary Affected wheat crop will bring at least USD 1 billion losses, forebodes APTMA Chairman
LAHORE (Dunya News) – Economy is rendering losses amounting to USD 3 billion annually as production is hit severely by energy crisis.
All Pakistan Textile Mills Association (APTMA) Punjab’s Chairman Amir Fiaz said that industries are not meeting their maximum production capability due to power gas outages. Energy crisis is not affecting the economy but employment ratio is heading downhill also.
The chairman said that the industrial sector is facing lack of business-friendly environment and cheaper cost of crops. He further said that additional taxes are adding to the woes.
He foreboded that affected wheat crop will bring at least USD 1 billion losses.
The APTMA chief also said that exports have fallen by USD 1.21 billion in 2014-15 fiscal year (FY) despite GSP-plus status.
