Pak textile industry unsettled by coronavirus pandemic
19 Mar 20 1 min read
Pakistan’s textile sector is highly unsettled by the adverse impact of the COVID-19 pandemic as buyers abroad have started cancelling and deferring orders. Pakistan Textile Exporters Association (PTEA) chairman Sohail Pasha recently said the situation is leading to massive de-industrialisation, a significant fall in exports and an unmanageable level of unemployment.
Pasha urged the government to take supportive measures on a war footing to keep the wheels of industry moving and disburse all outstanding refunds of textile exporters to save the livelihood of millions of workers.
PTEA patron-in-chief Khurram Mukhtar said as an extreme cash flow crunch had already squeezed financial streams, the negative impact of the virus outbreak would further hit the export industry, he was quoted as saying by Pakistani media reports.
Pasha urged the government to take supportive measures on a war footing to keep the wheels of industry moving and disburse all outstanding refunds of textile exporters to save the livelihood of millions of workers.
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PTEA patron-in-chief Khurram Mukhtar said as an extreme cash flow crunch had already squeezed financial streams, the negative impact of the virus outbreak would further hit the export industry, he was quoted as saying by Pakistani media reports.
Fibre2Fashion News Desk (DS)
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