The textile industry is the only hope for the revival of country’s economy which is currently jolted by the high cost of energy and prolonged power outages.
This was stated by Yassar Sakhi Butt, President Islamabad Chamber of Commerce and Industry while commenting on the decline of textile exports by 10.38% in fiscal 2012.
The president was responding to the figures released by the Pakistan Bureau of Statistics which shows that textile sectors cumulative exports have declined to $12.35 billion against $13.78 billion in the same period last year.
He said that the energy shortage was the prime cause of decline in exports because 40% of the production capacity of textile industry is dysfunctional due to inadequate supply of electricity and gas.
Published in The Express Tribune, July 22nd, 2012.