In the last five months, 150 textile mills have closed, and approximately 2 million have lost jobs because of rising energy costs.
According to data, 150 spinning and weaving textile mills in Pakistan have closed in the last five months because the energy crisis there has worsened. This has put at least 2 million people out of work.
The mill owners criticized the current government’s economic plan and said, “Under the current government, the cost of making things has gone up by 100%.”
The owners complained about the rise in energy prices, saying, “When the last government was in power, electricity rates were Rs18, but they are now Rs36. The price of a liter of gasoline went from Rs150 to Rs245.”
The mill owners said that gas isn’t available to industries and that imports can’t happen because letters of credit (LCs) aren’t being opened. This means the textile industry can’t get the raw materials it needs.
The government needs to pay attention to the situation immediately, or more textile mills will have to close.
