About seven million people in textile and textile-related industries have been laid off due to dwindling exports and the Government’s failure to end the economic crisis, representatives of the value-added textile associations in Pakistan said in a joint press conference.
They said that the current Government lacks any policy measures to end the crises affecting textile producers and exporters.
Pakistan’s textile industry is on the verge of closure as many units have already closed down. Several others are planning to either shut down or shift their production abroad.
Textile factories are not getting the necessary raw materials and accessories. Letters of credit from as low as US $ 5000 are being rejected which has also hit in-progress export orders of US $ 500,000 per consignment, they said.
These problems are causing production delays and disruption leading to the cancellation of export orders, they further added.
The Government’s performance has been poor as in the last nine months, two Finance Ministers have failed to resolve the ongoing economic crisis, leading to further problems in the textile sector.
As per the representatives, neither the Prime Minister nor the Finance Minister have set aside time to meet exporters. They complained that the dollar-earning export sector is placed below dollar-spending sectors on the priority list, which shows the poor judgment of policymakers.
They added that the current shortage of dollars the country is facing can be overcome by promoting exports.
The joint press conference was addressed by Muhammad Jawed Bilwani, Coordinator of the Value-Added Textile Forum; Pakistan Hosiery Manufacturers and Exporters Association (PHMEA) Chairman Muhammad Babar Khan; PHMEA Zonal Chairman Khizer Mehboob; Pakistan Knitwear and Sweater Exporters Association Chairman Rafiq Godil; and Pakistan Cloth Merchants Association former chairman Abdul Samad among others.
