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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,482
5024hr
Pakistan Cases
1,234,828
2,23324hr
4.23% positivity
Sindh
453,858
Punjab
426,639
Balochistan
32,828
Islamabad
104,764
KPK
172,498

Powerloom Industries, which was main livelihood of Faisalabad, has now been, reached to the edge of disaster due to severest ever liquidity crisis in the history of Pakistan, while a portion of small Power Looms of in size 56 inches had been sold out in Kabar Market @ of Rs.40 per kg due to non availability of working capital.
After 3 or 4 years, government did nothing to save livelihood of one lakh workers, which was yielding benefits from Powerloom Industries directly or indirectly.
Chaudhry Muhammad Nawaz, Chairman, All Pakistan Cotton Powerloom Association, (APCPA) said that COVID-19 and Lockdown is yielding negative impact over the Powerloom Industry, which was mostly lower business class.
Now owners are trying to sale their properties, while a group of Industrialists fully utilizing BMR scheme of State Bank of Pakistan and the graph of Shuttle less and Air Jett jumping up to 40,000/- to 50,000/- number. He said that second attempt to run remaining 200,000 Powerloom is going on.
Firstly, skill and work force is not available in the market, Ch. Muhammad Nawaz added and said that secondly Powerloom Owners have no working capital.

Copyright Business Recorder, 2020

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