Pakistan Government is yet to release funds allocated under the Export Package announced by Prime Minister Nawaz Sharif to give a cushion to the dwindling exports of the country. A proclamation to provide Rs. 180 billion over the next 18 months was made in January this year by the PM.
“While the Prime Minister assured us that the Rs. 180 billion package will be granted with Rs. 10 billion per month, the Government has already defaulted on payments worth Rs. 30 billion,” said All Pakistan Textile Mills Association (APTMA) Chairman Amir Fayyaz while speaking at a press conference in Pakistan.
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Further, talking about energy crisis in Punjab province, he said, “We are paying 30 per cent more for electricity than competing exporters in the region, coupled with an almost double tariff on gas than other provinces. This has made the industry uncompetitive.”