Pakistan imported three million cotton bales last year and needs to import at least five million bales during the current fiscal year due to damage to the crop by recent floods.

Current estimates of losses to the cotton crop due to floods are 3.5 million bales, accounting for 36 percent of the expected yield this year.Pakistan decided to reverse the competitive power rates for industries. In protest, textile millers have decided to shut down all textile industries in the country. More than 1000 textile mills have already been closed down. Almost 50 to 75 processing mills are closed and almost ten printing mills are closed in Faisalabad region. Similarly 50,000 looms mills closed due to the high price of electricity. Factories received bills at rates per unit which were too high. Almost 300 to 350 embroidery machines have been closed till date.

The closure of the textile industry will cause a huge loss to domestic exports. Five million employees will lose their jobs and 30 million people will be affected due to the closure of textile industries. The industry wants electricity and gas to be provided at competitive rates and without interruptions.

For the first two months of the fiscal 2022-2023, the value of textile and garment exports from Pakistan increased by four per cent.