Karachi -- President Pakistan Businesses Forum (PBF) and former FPCCI Chairman Standing Committee on Textiles, Sahibzada Mian Usman Zulfiqar on Wednesday said condition of the textile industry will worsen amid a liquidity crunch and shrinking global business, and will lead to closure of industrial units, decline in exports and massive unemployment.
As more industry would close in Pakistan and textile sector would go down. 'Number of exporters is decreasing in Pakistan'.
In a statement, he said the value-added textile export industry had rejected the federal budget for 2020-21, terming it 'one-sided and unrealistic' without any relief for the textile industry, which was the backbone of the economy and exports.
If the government supported industry, liquidity would have improved, 'now, unemployment will increase'. How would they handle this is what matters now ? he...