Massive growth: 50,000 closed power looms now operational

Faisalabad is witnessing an upward trend in the textile sector because 50,000 closed power looms have been turned operational.

As per the details, experts have forecasted that another 30,000 looms will be installed as the textile industry witnesses massive economic growth following the high demand for export times.

The recently-announced incentive of electricity supply for the industrial sector at subsidised prices by the government has also played a vital role in this development.

On Thursday, Prime Minister (PM) Imran Khan shared a television news report on Twitter regarding the revival of the textile industry.

The report highlighted the rise in economic activity in Faisalabad and the shortage of 0.2 million labourers that are required to meet the high demand of orders in the sector.

The textile sector had been adversely affected by the power crisis and neglect of the previous governments. However, due to the incumbent government’s effective smart lockdown policies during the coronavirus pandemic, numerous countries have diverted their orders to Pakistan’s textile sector.

According to the news report, the textile industry in Faisalabad has 1.3 million workers with 1 million native workers. In its recent report titled “Opening Early helped Pakistan Boost Exports during the Pandemic”, Bloomberg also underlined a major surge in Pakistan’s textile exports.”

Bloomberg’s report also quoted Shahid Sattar, the Secretary-General of the All Pakistan Textile Mills Association, as saying, “Pakistan has seen orders shifting from multiple nations including China, India, and Bangladesh”.

He added, “Garment manufacturers are operating near-maximum capacity and many can’t take any orders for the next six months”.

The report also mentioned that the outbound textile shipments of Pakistan grew at a faster pace than those of Bangladesh and India, and accounted for half of the total export. Islamabad saw total shipments grow 7 per cent in September, compared with New Delhi’s 6 per cent and Dhaka’s 3.5 per cent, the report stated.