Pakistan: Textile industry suffers financial loss amid power breakdown
Islamabad: The Pakistani textile sector suffered a financial loss of $70 million after the day-long countrywide power breakdown on Monday, media reports said on Wednesday.
Following the major power outage, industries across the country came to halt as the electricity supply to three provinces was cut from the National Grid, reports ARY News.
The country suffered an overall Rs100 billion financial dent due to the sudden closure of the industry amid a power outage.
Sources within the All Pakistan Textile Mills Association (APTMA) told ARY News that the textile sector suffered $7 to $8 billion loss across the country.
They added that the textile sector was already facing a severe crisis due to the ineffective policies of the incumbent government and the power outage increased the burden on the industries.
Sources said that the financial dent to the textile sector would be soared to billions of rupees if the government fails to provide an uninterrupted power supply.
Power generation was lower than 7,000 megawatts on Monday morning, well-placed sources told ARY News. ”There was upto 6,000 megawatts”.
“Hydel power generation in the country goes down to 90 percent, while thermal power generation by 70 percent,” according to sources.
Prime Minister Shehbaz Sharif ordered a high-level probe into the power outage issue.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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