Textile millers demand competitive tariff

All Pakistan Textile Mills Association (Aptma) Central Chairman Asif Inam has demanded the reduction in power tariff to 9 cents per kilowatt-hour (kWh), lowering of interest rate to 12% and restoration of zero-rated facility to enable the textile industry to contribute to the national economy through exports, investment and employment. Speaking at a press conference at the Aptma Lahore office on Tuesday, Inam lamented that the textile industry was paying Rs240 billion in cross-subsidies and over Rs150 billion in stranded costs. He stressed that the supply of electricity at 9 cents would lead to additional demand for over 300 megawatts and provide Rs500 billion in revenues.