APTMA delegation led by the Chairman Mr Abdul Rahim Nasir & Chairman North Mr Hamid Zaman met Adviser for Commerce & Investment to Prime Minister Mr Razak Dawood, Secretary Petroleum & Secretary Power to discuss the matter of gas supply to the exports sector.
The government agreed on gas supply to the industry to maintain production operations considering the international orders lined up given the emerging trend of higher exports. The gas supply of 75MMcf/d will be restored starting December 29, 2021.
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All efforts will be made to further increase the supply of gas to the export sector. Assuring a sustainable continuity of gas supply will go a long way for the exports sector achieving maximum production & capitalizing on export orders. These measures will support the Industry to meet the export target of $21 billion for 2022.
— All Pakistan Textile Mills Association (@APTMAofficial) December 28, 2021
Subsequently, APTMA delegation met the finance Minister Mr Shaukat Tarin, who assured them of adequate gas supply, working capital & easing their refund mechanism. Mr Shaukat Tarin suggested a revolutionary mechanism whereby industrialists could be entitled to a refund within 7 days of their claim, and should FBR not respond within 7 days, the industry would be entitled to adjust the refund against any FBR dues. This will to a very large extent ease liquidity issues.
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We sincerely thank Mr Razak Dawood, Mr Shaukat Tarin, Secretary Petroleum, Commerce & Power for having such a constructive meeting with APTMA & resolving the issue which would have ended up in a significant drop in Pakistan’s Exports.
We especially thank Prime Minister Mr. Imran Khan, for having reposed his trust in the industry and in export-led growth for a sustainable economic future.