[REPORT COMPARISON] If Bloomberg is to be believed, PTI government has recreated half a million jobs in textile industry
The textile of Pakistan spiked to full-capacity production after the government withdrew duties and taxes on import of the raw cotton
- Statistics have shown that the PTI government has recreated half a million jobs by strengthening the textile industry.
- In 2016, more than 500,000 jobs in the textile sector were lost.
If Bloomberg is to be believed, the PTI government has recreated half a million jobs by reviving the textile industry, which has been working to its full capacity.
In 2016, Bloomberg published an article by the title, “Half a Million Jobs Lost as Textile Crisis Hits Pakistan’s Economy.”
It was revealed in the editorial that more than 500,000 jobs lost in two years as factories close. It further said that the biggest textile factory in Karachi- Pakistan’s economic hub, had shut down in 2016.
“The Al-Abid Silk Mills Ltd. employed 7,600 employees in Karachi; now only a handful can be seen in the near-abandoned garment workshop. It was one of the hundreds that closed over the last few years, contributing to the country’s exports falling to their lowest in six years.”
The article added, “Exporters from Pakistan, who accounted for more than half of all overseas shipments, said that buyers had shifted to other countries including Vietnam and Bangladesh. As continual power outages hinder their [exporters] ability to meet order deadlines while complaining that the PML-N government had provided them limited support.”
Textile industry spiked to full-capacity production
Following this, The Express Tribune published another report earlier this year. It said, “The textile of Pakistan spiked to full-capacity production after the government withdrew duties and taxes on import of the raw cotton.”
The report also quoted the Former Chairman of All Pakistan Textile Mills Association , Asif Inam. He said, “Pakistan’s textile sector is working on full capacity.”
Inam added, “We cannot take additional export orders these days. We have entered into the capacity constraint zone.”
What are your views on this? Share in the comments bar below.