Islamabad, 10 January 2023 (GNP): According to reports, about seven million people working in textile and textile-related industries in Pakistan have been fired from their jobs due to decreasing exports and the Pakistani government’s failed efforts to end the economic crisis in the country. This has been so as the federal government has no adequate policy to support the textile industry’s exporters and manufacturers.
There have been reports of various and major producers either temporarily or completely, ceasing their operations in the country. Recent cases were Nishat Chunian Limited, Kia, Pak Suzuki, Toyota, etc. The economic and political instability in Pakistan poses a major threat to the textile industry.
Many companies have completely closed their production and manufacturing which has resulted in unemployment on a massive scale. Many of the closed companies are shifting their production abroad.
Textile plants are facing shortages of necessary raw materials and other accessories which is causing disruption and production delays. This has led to the cancellation of export orders. Furthermore, delays in various consignments have also increased expenditures.