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Home / Business / 130mmcfd or 30pc gas for textile: Decision to help increase exports to $26b; averted $5b loss to industry
130mmcfd or 30pc gas for textile: Decision to help increase exports to $26b; averted $5b loss to industry

130mmcfd or 30pc gas for textile: Decision to help increase exports to $26b; averted $5b loss to industry

ISLAMABAD: On directives of Prime Minister Nawaz Sharif, the Petroleum Ministry has directed the SNGPL to divert gas from thermal power houses and allocate 30 percent gas to textile industry in Punjab. With the government decision, 8 hours a day gas supply of 132mmcfd and uninterrupted electricity will be available to industry, particularly to the industry in Punjab during winter.

Experts and stakeholders welcomed the govt decision and hoped that the smooth provision of gas would enable the industry to double textile exports to $26 billion in next five years. It also expressed the optimism that it would also ensure $1 billion investment per annum to generate another 10 million jobs to strengthen the country’s economy.

Meanwhile, APTMA lauded the decision to supply gas to Punjab textile industry during winter, saying that by the Prime Minister had taken a sagacious decision that would help revive the economy and double exports.

The association pointed out that the industry could have suffered a colossal loss of $5 billion in next three months, had the govt stopped gas supply the textile industry.