Textile manufacturers have cautioned that the industry has suffered a serious setback due to energy crisis and if gas and electricity disruption remains continue, average decline in textile exports could be $400 million per month in coming months.
“The decline in exports has been worsening month after month since the start of the current fiscal year in July 2011, showing low production for exports due to obvious reasons,” said Pakistan Textile Exporters Association (PTEA) Chairman Rana Arif Tauseef.
Talking to the media here on Monday, Tauseef said suspension of gas in December caused a 19.2% drop in textile exports and pushed the industry to the brink of disaster, leaving millions of workers jobless.
All major sectors of the textile industry, including cotton yarn, cotton cloth, knitwear, bedwear, garments and towel registered a steep fall in exports, both in volume and value terms, during December.
Published in The Express Tribune, January 24th, 2012.
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