Chamber Chief deplored that the industries particularly the textile industries in Faisalabad are out of gas supply for ten and a half days in last 16 days of the month and when provided supply of gas for a day now the pressure was too low to make use of it. He continued, the gas to industrial sector is used to curtail in the previous winters due to enhanced domestic consumption and city load on its system but this time the supply situation proved worst and he termed it bad management on the part of authorities who have halted the industrial production to standstill.
He said that country's economy is under severe balance of payments' pressure and forex reserves are already lowered to a dangerous level consequently pushing the rupee's parity with that of dollar to further low and the balance of current account has also been deteriorated during the last month.
He maintained that the Government is inviting foreign investment in the country while the investors in the country are willing to invest and expand their industries but the gas and electricity load shedding have paralysed their investments and hence capital flight and relocation of industries to other environments conducive.
He said that Faisalabad textile sector contributes to US $4 billion to the national textile exports as well as meets the domestic demand which has also risen due to increased requirement with the severe winter across the country for warm fabrics and clothing.
He said that with the India-Pakistan trade liberalisation and European Union allowing export from Pakistan under Autonomous Trade Preference Scheme (ATPS), textile industry is in a position to support the external sector with increased exports if absolved of the gas and electricity load shedding by the authorities. He maintained that there is no alternative available of gas for production process in textile manufacturing and urged the Government and SNGPL authorities to improve the supply of gas to the Faisalabad textile industries immediately.