Islamabad, Apr 11 (INP): The textile industry in Pakistan is badly suffering in wake of COVID-19, says a report carried by Gwadar Pro App on Saturday. 

The country’s textile industry accounts for 8% of GDP and over 46% of manufacturing industry. Facing the challenges of epidemic, more than 19 million Pakistani working in this field would be influenced. In order to redress the situation, the government has already released a DLTL refund of Rs. 20.5 billion to textile industry. According to the report, epidemic outbreak has hurt Asian textile industry rigorously. Lu Sheng, professor of University of Delaware said, COVID-19 epidemic probably impacts textile and clothing industry in South Asia bitterly and leads to more than 4%-9% unemployment in this industry of such regions.” He also explained the factors of this inclination: “Epidemic has not only impacted short-term export orders, but also brought a serious of long-term harmful effects, such as labour shortage, hiking of prices of raw materials and so on.” Though textile industry is undergoing a harsh time, the turnaround is forthcoming that several large textile and clothing companies have resumed production, such as Kohat Textile Mills Limited, Masood Textile Mills Limited, and Saif Textile Mills Limited. 

According to the Pakistan Stock Exchange (PSX) “In view of the relaxation allowed to the textile industry from the current situation of lockdown due to COVID-19, by the authorities, Nishat Mills Limited has resumed partially its production ."  

INP/JAVED