APTMA spokesman has said that textile industry in Punjab has incurred production loss of $125 million since disconnection of electricity and gas supply over the last five days.
The textile industry in Punjab is losing $25 million a day due to capacity closure. The uncertainty level is on the rise and the industry is suffering badly due to its bad image on delivery of foreign orders.
It is quite unprecedented in the history of textile industry that mills are being deprived of energy supply altogether. The energy constitutes 35 percent of the conversion cost in spinning, weaving and processing mills.
But no energy is available for either self-generation or through the system on independent feeders. The Punjab-based textile industry has entered into fifth black day due to non-availability of energy supply to the mills.
There is rampant order cancellation and textile mills are facing acute liquidity crunch with every passing day. The industry cannot sustain with workers burden unless production activity starts up.
The textile industry has already laid off one shift of workers and more will be shown the door if the Ministry of Water & Power failed to restore electricity supply to the industry.
The textile workers are planning to hold a strike throughout the province of Punjab on 28th December that may lead to law and order situation.
