The textile industry is set to milk more money following the Cabinet Committee on Energy’s (CCOE) approval of another package worth Rs26 billion for the industry by extending the Time of Use (ToU) tariff scheme. On a summary of the Power Division, the CCOE approved the proposal of “Extension of Time of Use (TOU) Tariff Scheme for Industrial Consumers” from May 1, 2021 to June 30, 2022. The textile industry is a major beneficiary of the subsidy scheme. Interestingly, the textile industry was not only availing the subsidy on gas supply but it was also receiving electricity at discounted rates. The textile industry is also yet to pay cotton cess for conducting research on cotton crop.

Source: The Express Tribune April 16, 2021 03:33 UTC