Downfall of the Textile Industry of Pakistan (Problems and Prospects)

Abstract

Pakistan's textile industry was accounted for over 60% of the country's exports in 1990. However, the industry is now declining at its growing percentage. The main causes for this drop is due to the worldwide collapse, interior safety issues and large manufacture costs. The devaluation of the Pakistani rupee, such as the fuel calamity, has expressively enlarged the cost of imported inputs. High inflation rates and high financing costs have a serious effect on the development of the textile industry. If the government focuses on both private and public sectors, Pakistan's textile industry could be on the road to success. In addition, the government must fund the textile industry. Buying new machines or improving the quality of existing machines. That is to increase the productivity of new machines, the cost on (R&D) increases and existing machines and offering better schemes and plans for private sectors.