Pakistan textile industry in crisis after 223% surge in gas tariffs

KARACHI, Mar 09: Pakistan's textile industry, a major pillar of the country's exports, is facing a potential meltdown due to a staggering 223% surge in gas tariffs over the past year, according to the All Pakistan Textile Mills Association (APTMA).
APTMA Chairman Zahid Mazhar, addressing a general body meeting, slammed the price hike as "alarming" and warned it could cripple the export sector. He expressed fears that textile manufacturers will be forced to shut down due to unsustainable financial losses, jeopardizing Pakistan's export competitiveness.
Textiles currently account for a significant 60% share of Pakistan's total exports. However, the skyrocketing gas prices are making it impossible for Pakistani manufacturers to compete in the international market. APTMA has urged the government to reconsider the gas tariff increase to prevent widespread closures and job losses within the textile sector.