Following the Prime Minister (PM) of Pakistan Nawaz Sharif’s decision to provide additional gas supply to the industrial sector, the Economic Coordination Committee (ECC) of the cabinet has approved the PM’s directive for diversion of 85 million cubic feet (mmcfd) of natural gas from electricity to industrial units, including textiles.
The ECC, under the chair of Finance Minister Ishaq Dar, has decided to divert 85 mmcfd of gas presently being provided to the power sector to export oriented industries in the country, especially textiles, with immediate effect to take full advantage of Generalized System of Preferences Plus (GSP+) facility granted to Pakistan recently.
According to the ECC, the decision would check unemployment and help maintain the present momentum of growth in industries, including textiles sector, besides earning much needed foreign exchange for the country.
The ECC decision came after industrialists appeal to be provided with additional gas in order to take full advantage of GSP+ status granted to Pakistan last week by the European Union. The GSP+ status takes effect from January 1, 2014.
Earlier this week, Finance Minister Ishaq Dar had assured that the textile industry of Pakistan would receive gas for two days a week as per the Federal Government’s decision, stating that the Government was taking tangible measures to overcome the energy crisis in the country and 41,000 mega watts power will be added to the system in next few years.
