All
 

 

Just in:  

You are here: Home»Cotton & Textiles»Pakistan»Around 40,000 power looms closed due to energy crisis: National Assembly informed

Around 40,000 power looms closed due to energy crisis: National Assembly informed

Minister for Textile Industry Makhdoom Shahabuddin on Wednesday informed the National Assembly that around 40,000 power looms of different sizes have been closed due to energy crisis. He informed the National Assembly during question hour that textile sector represents the longest agro-manufacturing value chain starting from seed, natural fiber, synthetic fiber, yarn, greige fabric, processed fabric, garments, made-ups and high value added brands.

The textiles industry setup in our country is dependent on exports as approximately 80 percent of the goods produced are exported in one form or the other. Due to international slow down and domestic macro issues including energy crisis it has been reported by association concerned that in last five years approximately around 40,000 power looms of different sizes ie 44, 52, 114 and 120 inches have been closed. It has also been reported by the concerned association that 12 percent of units closed have diverted to other textile sub-sectors including embroidery. Further, due to closure of power-looms the upstream sizing industry has also been closed which will become operational on working of power looms.

Although exact number of employees cannot be determined as majority of power looms are cottage industry and self-owned and is not documented being in the informal sector. However, it is estimated that around 30,000 labourers were affected during non-operational period. It is also estimated that 17 percent of labour has now been working for other textile sectors including embroidery, he added.

Copyright Business Recorder, 2012



 



 
Index Closing Chg%
Arrow DJIA 17,959.44 0.87
Arrow Nasdaq 4,781.43 0.34
Arrow S&P 2,078.54 0.38
Arrow FTSE 6,576.74 0.48
Arrow DAX 9,865.76 0.81
Arrow CAC-40 4,254.43 0.30
Arrow Nikkei 17,635.14 0.08
Arrow H.Seng 23,408.57 1.26
Arrow Sensex 27,701.79 1.21






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyDecember 22, 2014
Reserves $14.042 bln