In a statement issued on Monday, Aptma said that the power tariff hike would render the countrys exports uncompetitive on the world markets.
As a result of this, India, China and Bangladesh would capture global markets presently dominated by Pakistani exporters.
This increase will mostly benefit Indian textile industry at the cost of Pakistani industry as their products would become more attractive on the world market, the Aptma release said.
The association said that the government should have taken all the stakeholders on board before making any drastic changes in the electricity tariff.
The one-sided decision will result in massive loss to trade and industry and countrys exports, it added.
The government is not in a position to provide uninterrupted power and gas supply to the industry due to which industry is faced with higher cost on operating below the capacity.
The decision of hefty increase in power tariff is bound to damage the manufacturing sector and exports, the association lamented.
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