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Crude oil dearth left Textiles in crisis

Staff Report ISLAMABAD: Textile sector of the country is facing crisis due to shortage of crude oil while industrialists and workers are staging demonstrations across the country, SAMAA reported Tuesday. According to sources, due to export of cotton yarn, the prices of raw cotton and yarn/thread have increased which has left textile sector in deep...

SAMAA | - Posted: May 11, 2010 | Last Updated: 11 years ago
SAMAA |
Posted: May 11, 2010 | Last Updated: 11 years ago
Crude oil dearth left Textiles in crisis

Staff Report

ISLAMABAD: Textile sector of the country is facing crisis due to shortage of crude oil while industrialists and workers are staging demonstrations across the country, SAMAA reported Tuesday.

According to sources, due to export of cotton yarn, the prices of raw cotton and yarn/thread have increased which has left textile sector in deep crisis and domestic industry of power looms has been affected as well.

Power looms owners are compelled to shut down business and it will make workers jobless, SAMAA learnt.

Workers of textile sector in Faisalabad, popularly known as Manchester of Pakistan, are also holding demonstrations.

Complete strike will affect exports worth million of rupees, sources told SAMAA.

On the other hand, in Lahore, protests are being held against Value Added Tax on the call of Industries’ association. Industrial workers jammed traffic by placing hurdles on Hamdard Chowk, Lahore.

The demonstrators demanded from the government to impose ban on export of cotton yarn and save value added industries from destruction.

Meanwhile, textile workers protested in SITE area and Federal B. Area of Karachi and urged the government to take notice of the impending crisis. They said it will leave around 2 million workers jobless if the issue is not addressed. SAMAA

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