Textile mills shut production to protest high cost of business

LAHORE: A large part of the textile industry was shut down Wednesday to observe a ‘Black Day’ in protest of escalating cost of doing business in Pakistan.

"High power tariff and gas infrastructure development cess (GIDC) add around Rs170 billion to the cost of doing business every year," Tariq Saud, chairman of All Pakistan Textile Mills Association (Aptma), said at a press conference the previous day.

Industry leaders said that the protest was also against the delayed announcement of the textile relief package by Prime Minister Nawaz Sharif.

"All the member textile mills will stay closed on Wednesday to observe a black day against the delaying tactics of the government on the textile relief package," Amir Fayyaz, Aptma Punjab chairman, had announced at a separate press conference.

Industry leaders said a majority of Aptma members desire not to run their factories until the government announces the package.

The finance minister promised a relief package for the sagging industry in the first week of September.

Textile exports fell to $1.83 billion in August as against $1.9 billion in the same month a year ago and industries in Punjab were already told that there would be no gas supplies for three months November onwards.