FAISALABAD - Textile processors, which are one of the major consumers of hydrogen peroxide (HP), have expressed grave concern over its artificial price hike and shortage in market.

All Pakistan Textile Processing Mills Association (APTPMA) expressed with utter surprise and consternation that the local manufacturers of hydrogen peroxide (HP) have abruptly reduced the supply of hydrogen peroxide in the country which has created panic amongst APTPMA’s member units, which are one of the major consumers of HP. This hasty step, which appears to have been taken at the behest of local manufacturers of this essential item of basic raw-material in the country, in gross contravention of the universally acclaimed norms of monopoly and cartels, is likely to cast devastating repercussions upon the overall national economy.

Saleem Parekh, central chairman APTPMA, said that hydrogen peroxide is used as a basic raw-material by the textile processing units. This hasty step, on part of local manufacturers, is bound to create further artificial shortage, and escalate the prices of hydrogen peroxide. Shortage of hydrogen peroxide would adversely affect the export of textile fabrics/garments and deprive the country of valuable foreign exchange to the tune of billions of rupees, besides closure of hundreds of textile industrial units and making thousands of workers jobless.

Due to shortage of hydrogen peroxide in the country, APTPMA chief Saleem Parekh has sought permission from ministry of commerce to import hydrogen peroxide for textile industrial use on zero rated duty basis till time local supply is back to normal in terms of price and delivery.