{"id":61299,"date":"2022-01-04T15:58:29","date_gmt":"2022-01-04T20:58:29","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61299"},"modified":"2022-01-04T15:58:29","modified_gmt":"2022-01-04T20:58:29","slug":"pakistan-textile-exports-hit-by-gas-crunch-industry-body-says","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61299","title":{"rendered":"Pakistan Textile Exports Hit by Gas Crunch, Industry Body Says"},"content":{"rendered":"<div class=\"lede-wrap\">\n<div class=\"lede-text-v2 lede\">\n<div class=\"lede-text-v2__container\">\n<div class=\"lede-text-v2__content\">\n<h3 class=\"lede-text-v2__hed\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/pakistan-exports-hit-by-gas-crunch-in-blow-to-ailing-economy?sref=grMAiy4s&amp;s=09\">Pakistan Textile Exports Hit by Gas Crunch, Industry Body Says<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content-well-v2\">\n<section class=\"main-column-v2\">\n<ul class=\"abstract-v2\">\n<li class=\"abstract-v2__item\">\u00a0$250 million of textile exports were lost in Dec., group says<\/li>\n<li class=\"abstract-v2__item\">\u00a0Energy minister rejects claims low gas supplies are to blame<\/li>\n<\/ul>\n<div class=\"body-columns\">\n<div class=\"middle-column\">\n<div data-component-root=\"LeftRail\">\n<aside class=\"left-rail__af2a150e article__d1d311d8\">\n<div class=\"text-to-speech__8a3670cd\"><\/div>\n<div class=\"share-article-button__cef88d58\" data-theme=\"markets\"><\/div>\n<\/aside>\n<\/div>\n<div data-component-root=\"ArticleBody\">\n<div class=\"body-copy-v2 fence-body\">\n<p>Pakistan\u2019s natural gas shortage is hurting its crucial textile exports, according to an industry trade organization, putting even more stress on the nation\u2019s struggling economy.<\/p>\n<p class=\"paywall\">About $250 million of textiles exports were lost last month after mills in Punjab were forced to shut for 15 days, said Shahid Sattar, executive director of\u00a0<a title=\"web site\" href=\"https:\/\/aptma.org.pk\/\" target=\"_blank\" rel=\"noopener\">All Pakistan Textile Mills Association<\/a>. Factories in the province are dependent on power generated from regasified imports of liquefied natural gas, while domestic supply is being diverted to other regions, he said.<\/p>\n<p class=\"paywall\">Pakistan has become a fast-growing import market for LNG as local supply has subsided over the last few years. But competition for the fuel &#8212; used as an electricity feedstock and for heating and cooking &#8212; has intensified due to global shortages, sending spot prices to levels that Pakistan can\u2019t afford.<\/p>\n<p class=\"paywall\">\u201cThe high gas prices are prohibitive,\u201d Sattar said in an interview. The \u201csupply shortfall is due to the energy ministry\u2019s inability to arrange supply, and is hurting the very future of Pakistan\u2019s exports and economy.\u201d<\/p>\n<p class=\"paywall\">Pakistan\u2019s government, which has been criticized by the opposition for mishandling LNG imports, refutes claims that textile exports dropped because of low gas supplies. More than 90% of mills shifted to using electricity from the grid when gas wasn\u2019t sent to their power generation units last month, Energy Minister Hammad Azhar said by phone, adding that \u201cthe electricity is being offered at regionally competitive rates.\u201d<\/p>\n<p class=\"paywall\">Pakistan restored gas to the textile sector last Wednesday after the association halted litigation against the government on the supply cut, and agreed to energy audits of their captive power plants. Only half of the companies have restored connections, while the rest are still running their mills on the national grid, according to the ministry.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan Textile Exports Hit by Gas Crunch, Industry Body Says \u00a0$250 million of textile exports were lost in Dec., group says \u00a0Energy minister rejects claims low gas supplies are to blame Pakistan\u2019s natural gas shortage is hurting its crucial textile exports, according to an industry trade organization, putting even more stress on the nation\u2019s struggling [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[32395,5752,32396,1614,554,1745,32397],"class_list":["post-61299","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-ann-koh","tag-bloomberg-news","tag-faseeh-mangi","tag-gas-prices","tag-natural-gas","tag-pakistan","tag-textile-exports"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61299"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61299\/revisions"}],"predecessor-version":[{"id":61300,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61299\/revisions\/61300"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}