Yarn manufacturers seek implementation of lower power tariff
Official says over one month has passed since government announced subsidy
It was proposed that 5% regulatory duty may be removed on cotton yarn till June 30, 2021, by the time the situation of cotton would be reviewed again. PHOTO: REUTERS
Yarn manufacturers have requested the federal government to implement the schedule of reduction in electricity tariff, which it had announced for the export-oriented sector.
In a statement on Saturday, Pakistan Yarn Merchants Association (PYMA) Senior Vice Chairman Muhammad Hanif Lakhany said that the government should direct the electricity distribution companies to follow the notification immediately.
PYMA asks to reduce power tariff
Business
January 16, 2021
KARACHI: The Pakistan Yarn Merchants Association (PYMA) have asked the federal government to implement reduced electricity tariff announced for the textile industry, a statement said on Friday.
Muhammad Hanif Lakhany, senior vice chairman and Farhan Ashrafi, vice chairman of PYMA, said that strict instructions should be issued to the electricity distributor companies, especially K-Electric to follow the governmentâs notification immediately, so that the domestic industries affected by the Covid-19 can get some relief, it added.
In this regard, a delegation of PYMA led by Hanif Lakhany and Farhan Ashrafi called on Monis Alvi, chief executive officer (CEO) of K-Electric, at the head office.