Violence leads to heavy losses for textile industry
01 Jan '08
1 min read
In the aftermath of former Prime Minister of Pakistan Ms Benazir Bhutto's death, the textile industry in particular has been made the target of heavy violence by the rioting mobs. More than 2500 bales have been set on fire by the mobs and more than 4 mills have faced heavy damage to their plant and machinery.
All this comes in the wake of the textile industry going through a very bad phase in the year 2007.
Already there was a shortfall of cotton in the country and the Government was also planning to increase the gas tariff by 6.5 percent from early this year. The hostility will add to the woes of the already beleaguered textile industry.
The above will have long term repercussions on the production, trading and above all on the export potential of the textile industry. The textile industry is facing losses of millions of rupees due to the violence and its effects will be felt for a long time to come across the textile industry in Pakistan.
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