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Impact of energy crisis in Punjab |
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Rana Muzaffar Hameed |
February 7, 2013, 11:49:02 PM |
Energy crisis in the country especially in Punjab has hit hard the major foreign exchange earning sector - leather industry - as its exports have declined by 25 percent or $300 million to $900 million in calendar year 2012 as against $1.2 billion in 2011. The electricity produced through generators has turned the sector uncompetitive not only in international market but also within the country. Pakistan Tanners Association (PTA) Central Chairman Agha Saiddain, addressing an emergent meeting of the PTA Central Executive Committee, said majority of tanning units were facing complete closures due to zero availability of gas and prolonged power breakdowns in the province, as use of furnace oil for boilers heating was unviable. He said tanning industry was the mother industry of leather sector and government might save this important industry by offering relief package up to 5.0 percent as provided in Bangladesh and India so that industry could sustain the setback of power and gas load shedding. Instead of depending on International Monetary Fund (IMF) and foreign borrowings on much higher cost, the government should patronise local export industry to meet its foreign exchange needs. Full story
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