On one hand, where Pakistan is continuously getting stuck in the quagmire, on the other hand, Prime Minister Shahbaz Sharif is proving to be a miserable failure. Pakistan is famous for exporting clothes in the world. In the year 2021, it exported $ 19.3 billion. This was half of Pakistan’s total exports in the year 2021. There has been a huge shortage of cotton in Pakistan, which has shut down many small companies exporting bedsheets, towels and other items to the US and Europe.
Shahbaz did not approve the import of cotton
The latest report reveals that 70 lakh people have lost their jobs in the textile industry. Not only this, instead of helping the cotton industry, the poor government of Pakistan imposed more tax on it. The crisis in the textile industry in Pakistan comes at a time when the country is facing a severe shortage of foreign exchange reserves and record inflation. The cotton industry is not even able to buy raw material. Due to this, he is not able to meet the demand of foreign customers.
Thousands of shipping containers are parked at Karachi port. Pakistan is unable to give even a dollar to land them. Now there is a danger that crores of people may lose their jobs in the coming times. The flood in Pakistan has made the situation worse. Earlier last year, Pakistan’s cotton industry had demanded imports from India. The Shahbaz government did not approve it in view of the political threat posed by Imran Khan. Pakistan had a bumper export order but it is not able to fulfill it. In Pakistan, 25 percent of the cotton crop has been destroyed. Due to this he is facing difficulties.