A total of seven million people have lost their jobs in the textile and associated industries as a result of decreased exports and the government’s failure to solve the financial crisis.
At a joint news conference on Monday, representatives of textile organizations stated that there are currently no policies in place to address the problems facing textile exporters and manufacturers. The industry is on the verge of closing down as a result of several unit closures. Others, they alleged, are preparing to shut down or move to manufacture elsewhere.
The representatives of the industry stated that access to raw materials and accessories, including letters of credit for as low as $5,000, are being refused by textile mills, endangering export orders worth $500,000 for each shipment.
According to them, there is a national shortage of manufacturing supplies, which is causing production to be disrupted and export orders to be canceled. the expense of holding different consignments climbed dramatically.
The fact that the dollar-earning export sector is ranked behind the dollar-spending sectors shows how ill-advised politicians are. Third on the list of import priorities for raw materials are exporters who bring money into the nation. They stated that imports connected to energy come in second on the priority list after wheat and edible oil.
They said that the administration had performed poorly during the previous nine months, with two finance ministers unable to end the protracted economic crisis. They emphasized the fact that the exporters had not met with the prime minister or the finance minister.
