Pakistani textile companies go on strike to protest rising costs of doing business

According to a report by Pakistan’s “National” on October 15, all Pakistani textile companies closed their factories on October 14 and went on strike to protest the growing cost of doing business, and warned the government that if relevant demands are not met within a week, the strike may continue. . The All-Pakistan Textile Mills Association (APTMA) said that the strike will cause a loss of 1.8 billion rupees to the Pakistani textile industry, and 300,000 textile workers will be unemployed for one day. The main motivations for this protest are the rising electricity bills and the gas infrastructure development tax (GIDC) levied by the government. It is said that the two combined will increase the operating costs of textile companies by 170 billion rupees every year. The current electricity price for textile factories in Pakistan is 15 cents per kilowatt hour, which is nearly twice the 8-9 cents per kilowatt hour in neighboring competitor countries. Despite receiving the EU’s super GSP treatment, Pakistan’s textile exports still declined, while its main competitor, the Indian textile industry, received US$66 billion in investment and 10% subsidies. There are currently 15 million industrial workers in Pakistan’s textile industry, but 30% of spinning mills have closed down due to high operating costs. Pakistani textile companies go on strike to protest rising business costs
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