The All Pakistan Textile Mills Association (APTMA) anticipates an imminent and extensive industrial shutdown within the forthcoming months, prompted by the escalation in energy costs.

In meticulous correspondence directed to the Ministry of Energy, Ministry of Commerce, and Special Investment Facilitation Council, the APTMA asserts that numerous industrial sectors teeter on the precipice of closure, a consequence of the exorbitant tariffs on electricity and gas.

The APTMA harbors concerns that a multitude of industries may face closure in the impending months, with the additional repercussion of heightened unemployment throughout the country.

The written communication highlights Pakistan diminishing market share in global exports and the gradual demise of its industrial sector. It elucidates that the prevailing cost of supplying power to industries stands at Rs 50 per unit.

The APTMA contends that the unit cost of electricity surpasses that of regional counterparts by 18.5 cents per kilowatt, accentuating the doubled prices of gas and regassified liquefied natural gas (RLNG) within the textile sector.

Expanding on this, the APTMA notes an astounding 250 percent surge in gas prices for industries over the preceding year.

In a preceding development on January 16, the Power Division resolved to recalibrate the electricity tariff for industrial consumers amid the soaring circular debt, reaching an astronomical Rs5.73 trillion.

Unveiled during a session of the Senate Standing Committee on Energy, the Secretary of the Power Division articulated a formulated strategy to curtail the electricity tariff for industrial consumers from 14 cents to 9 cents per unit. Emphasizing the indispensability of tariff revision to fortify industrial sectors, he posited, "Revision of tariff is imperative to bolster the industries.