Islamabad/IBNS: 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, experts associated with the industry said.
The current government does not have any policy to end the various crises affecting textile producers and exporters, representatives of the value-added textile associations said in a press conference on Monday as quoted by Dawn News.
Textile factories are being deprived of necessary raw material and accessories. Letters of credit worth as low as $5,000 are being refused, which has hit in-progress export orders of $500,000 per consignment. It’s causing severe disruption and production delays and has led to the cancellation of export orders. Demurrage on various consignments has increased the cost too much, they said.
The joint press conference of 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, Dawn News reported.
