Textile Exporters Blame Interim Government for Economic Crisis
Textile exporters have expressed strong condemnation towards the interim government, holding it responsible for what they describe as an “economic disaster” that has severely impacted the national economy. They assert that the government’s intervention in economic matters, particularly its decision to significantly increase energy prices, has exacerbated the challenges faced by the textile industry and resulted in a downturn in exports.
According to industry representatives such as Muhammad Jawed Bilwani, Mubashar Naseer Butt, Muhammad Usman, and Khalid Majeed, the interim government’s policies have directly contributed to a slowdown in industrial growth and sabotaged the country’s export potential.
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They argue that repeated hikes in gas and electricity prices have rendered textile exports uncompetitive in global markets, leading to a decline in export revenues and undermining the industry’s viability.
The imposition of high gas tariffs, coupled with increased costs of RLNG, has further exacerbated the situation, with gas prices reaching unprecedented levels. Export-oriented industries are grappling with the burden of these elevated costs, unable to pass them on to consumers due to stiff market competition and pricing pressures.
Moreover, the absence of industry representation in regulatory bodies such as the Oil and Gas Regulatory Authority (OGRA) has been criticized as detrimental to the interests of export-oriented sectors. The lack of consultation with industry stakeholders on crucial policy decisions, such as determining gas tariffs, reflects a disconnect between government actions and the concerns of affected industries.
In light of these challenges, industry representatives have called upon the Prime Minister to intervene and address the pressing issues faced by the export sector. They urge for a dialogue between government officials and industry stakeholders to devise solutions that mitigate the adverse effects of energy price hikes and ensure the sustainability of export-oriented industries.
As the textile export industry continues to grapple with the fallout of economic policies enacted by the interim government, there is a pressing need for collaborative efforts to address the root causes of the crisis and chart a path towards recovery and resilience. Only through concerted action and meaningful dialogue can the industry overcome its current challenges and regain its competitive edge in the global market.
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