ISLAMABAD: Faisalabad is currently experiencing a financial boom with the operationalisation of 50,000 power looms and expecting the opening of another 30,000 units.
Known as the country’s textile hub, Faisalabad, for the first time after 1990, has seen a massive economic growth following a high demand of export items and the government’s recently announced incentive of supplying electricity to the industrial sector at reduced rates.
In this regard, Prime Minister (PM) Imran Khan in a tweet on Thursday shared a television news report about the increased economic activity in Faisalabad and the resultant shortage of 0.2 million labourers required to meet the high demand of orders in the textile sector.
Factories and power looms faced closures owing to a power crisis as emerged due to the apathy of previous governments in the recent past. However, during the coronavirus situation, orders in the textile sector were diverted towards Pakistan from various countries.
The news report mentioned that Faisalabad had 1.3 million workers with one million natives and 0.3 million belonging to other districts.
Bloomberg in its recent report ‘Opening early helped Pakistan boost exports during pandemic’ also mentioned a surge in Pakistan’s textile exports.
“Pakistan has seen orders shifting from multiple nations including China, India and Bangladesh,” All Pakistan Textile Mills Association (APTMA) Secretary General Shahid Sattar said, as quoted by Bloomberg.
“Garment manufacturers are operating near maximum capacity and many can’t take any orders for the next six months,” he added.
Further, Pakistan’s decision to loosen pandemic restrictions early has helped the nation’s exports emerge stronger than its South Asian peers.
Bloomberg said that Pakistan’s outbound shipments grew at a faster pace than Bangladesh and India as textiles, which account for half of the total export.
“Islamabad saw total shipments grow 7pc in September, compared with New Delhi’s 6pc and Dhaka’s 3.5pc,” it said.
That is good to make ur economic conditions better
Good initiative. It will surely boast our economy and creates new jobs in Pakistan and specially in faisalabad.
In shah Allah Pakistan will become economic hub for world
I hope this trend continues and will help other sectors as well
Very Good initiativing . It will surely boast our economy and creates new jobs in Pakistan and specially in faisalabad.
Planning is main subject to increase the Demand. This is government duty to boost the economy. Need to stop import of those items which are available in the country.
Government should increase duties at imports. Need to relaxation on electric to industrial areas. Need to move residential areas to Solar power system.
But ……………..
This time to prove that Pakistan Export. Good Quality Material not like before did with international markets.
What Pakistani manufacturers need to remember is to keep the quality standards 100% and not what they did in the past export 1 good container and the rest inferior quality goods
Best opportunity for Pakistan. I really appreciate thatr