GREY:NKRSF - Post by User
Post by
Bigwhiskeyon Oct 23, 2014 11:11am
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Post# 23054330
fing kidding me read this
fing kidding me read this
Better sense needs to prevail
October 23, 2014
RECORDER REPORT
It appears that All Pakistan Textile Mills Association and Pakistan Textile Exporters' Association have shocked the Finance Minister Muhammad Ishaq Dar asserting that country's textile exports would drop by 2.5 billion dollars in case the textile industry in Punjab is denied natural gas during the winter months. As it is, the drop in exports during the month of September is by a billion dollars and that Pakistan would not be able to take advantage of GSP Plus opportunity, a favour offered by the European Union for boosting the country's exports. Minister of Petroleum and Natural Resources, Shahid Khaqan Abbasi has very clearly said that there is not enough domestically-produced natural gas for all sectors of the economy. And, the earliest import of Liquified Natural Gas will not be before March/April next year.
The Punjab-based industrialists have clearly stated that they will not be able to use imported LNG since the price differential between imported LNG and domestic natural gas would cost the exporters between Rs 82-114 billion a year, which would make the Pakistani cotton-based textiles globally incompetitive. Industrialists have further argued that transfer of their share of natural gas to domestic consumers would not be enough and there shall be loadshedding of gas or drop in pressure which would result in a hue and cry from domestic users.