Textile industry of Pakistan, which had earlier been slapped with Rs 3.63 per unit surcharges, has welcomed the December 28 announcement by Prime Minister Nawaz Sharif about reduction in the total electricity tariff by Rs 3 per unit from January 1, 2016.

Chairman, All Pakistan Textile Mills (APTMA) Tariq Saud said that the reduction in tariff will go a long way towards the revival of the textile industry, which is predominantly supplied electricity through independent 11 KV feeders with nearly no loss and which was fully compliant in bills payment each month. He said the industry which had been reeling under the imposition of the surcharges levied by the government to compensate for less collection of bills and for continuing high line losses, will now revive.

Sharif announced a cut of Rs3 in per unit tariff of electricity for industrial users and urged the exporters to translate it into increased exports for the country.

Tariq Saud appreciated the government’s steps for supporting the cause of industry and for stemming the rapidly falling exports on account of non-competitive energy cost for the Pakistani industry.

He, while commending the Prime Minister’s proclamation, assured the government of the industry’s full support and efforts in bolstering the falling exports and for revival of the presently closed capacities in the shortest time frame.