بزنس

Over 1600 textile industries suspended operations in Pakistan during PDM's govt

More than 1600 textile industries were forced to shut down operations in Pakistan during the last 16 months of the Pakistan Democratic Movement-led coalition government.

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27 Sep 2023

It was revealed by interim Commerce Minister Gohar Ejaz, who vowed to announce a plan for reopening the operations of these industries.

The shutdown of industries extends throughout the entire value chain, encompassing stages such as ginning, weaving, spinning, processing and garment manufacturing, the minister informed while talking to Dawn.

He further said that approximately 20pc of the overall installed capacity in the textile and clothing sector was impacted over the past 16 months.

Praising the PTI-led government, Gohar said textile and clothing exports increased to $19.5bn in FY22 and were projected to touch $23bn in FY23.

However, the exports fell to $16bn at the end of the PDM government’s term, he added.