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APTMA warns unemployment of textile workers. The patron-in-chief of the All Pakistan Textile Mills Association (APTMA) Gohar Ejaz has advised that about 10 million textile workers unemployed in Punjab.
The APTMA patron-in-chief Gohar Ejaz wrote a letter to PM Shehbaz Sharif and said that around 10 million textile workers unemployed in Punjab and the country would face a huge financial dent in terms of a $10 billion drop in exports.
He asked PM Shehbaz Sharif to take emergency steps as the country is facing a huge drop in exports. Ejaz detailed in his letter that the textile exports amplified up to 55% in the recent two years due to competitive energy rates.
Energy rates are higher in Punjab as related to Sindh. He wanted the federal government fix the gas price at $7 per MMBtu for the export sector across the country and the electricity price at Rs19.99 per unit.
The APTMA patron-in-chief said the export units given importance in gas supply.
Previously in the month, it learned that Pakistan’s textile exports seen a drop of 12% year-on-year to $1.36 billion in January 2023.
On a year-on-year basis, textile exports raised at $1.55 billion in January of the earlier fiscal year.
As per Pakistan Bureau of Statistics (PBS) data, the exports of the textile industry fell 8% from July to January. Textile exports continued at $10.8 billion from July to January as compared to last year’s $10.93 billion.
The drop witnessed at a time when the federal government amplified focus on exports to earn more foreign exchange but the textile sector’s performance continued average in the global markets.
Temporarily, the closure of 150 textile mills upraised the alarm bell about the severe crisis in the textile sector due to skyrocketing energy prices.
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APTMA warns unemployment of textile workers. According to facts, a total of 150 spinning and weaving textile mills in the country closed in the last five months due to a rise in the energy crisis in Pakistan, which results in the unemployment of at least 2 million people.