LAHORE: The All Pakistan Textile Mills Association Punjab Chairman Amir Faiz has said that the Pakistani economy is incurring losses amounting to $3 billion annually as production is hit severely due to energy crisis.
Talking to the media in Lahore, the chairman said that industries were not meeting their maximum production capability due to power and gas outages. “Energy crisis is not only affecting the economy but employment ratio is heading toward the lowest ebb.” he said. He feared that the affected wheat crop could cause $1 billion losses.
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 their woes.
The APTMA chief also said that exports have fallen by $1.21 billion in fiscal year 2014-15 despite GSP-plus status.
