Economic crisis to hit Pak industries, workforce after textile exports fall
Live MintAs Pakistan is struggling with its worst economic crisis in decades, the country's industry is bracing itself for cuts in production and workforce, especially in the textile sector after it witnessed at least 14.8% decline in textile exports, according to the data released by the Pakistan Bureau of Statistics. Nasir Mansoor, Secretary General of the National Trade Union Federation Pakistan said that as many as one million informal workers, mostly from the textile sector, will lose their jobs. Earlier this year, during a joint press conference held by the textile associations in January 2023, representatives of the associations revealed that around 7 million workers in the textile sector and textile-related industries had been laid off since last summer. "Sectors that are more likely to get affected by the current economic conditions in Pakistan are those which depend heavily on import; import of raw materials or other products, like autos.
History of this topic
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