Over the past sixteen months, more than 1,600 textile factories in Pakistan have closed down. This is affecting the entire textile industry, including ginning, weaving, spinning, processing, and making clothes. Also, many existing factories are not operating at full capacity.
Around 20 percent of the textile and clothing sector’s total capacity has been affected during this time.
To deal with this problem, the government is working on a plan. This plan aims to solve the issues by giving better energy prices, helping with money for operations, speeding up refunds, increasing access to markets, and encouraging making different products. These changes should help Pakistan’s factories work better.
In August 2023, Pakistan’s exports were $2.36 billion. This is 4.8 percent less than in August 2022 but 14.3 percent more than in the previous month when exports were $2.07 billion.
