Pakistan's export-oriented textile industry is relocating to Bangladesh and aims to gain a share of the preferential trade agreements between the United States and the European Union.
Pakistani textile minister Makkhodoom Shahabuddin confirmed on Tuesday that Pakistan’s textile industry is gradually shifting to Bangladesh to seek more profits, and industry leaders believe that the relocation was prompted by the interruption of Pakistan’s electricity and natural gas.
Bangladeshi authorities set up export processing zone special zones for Pakistani textile manufacturers to help them establish business. Energy-scarce Bangladesh is also trying to increase its electricity and natural gas supply for its important export industries.
The company's original textile center in southern Pakistan's Punjab Province had an indirect influence on the work of 60,000 workers and nearly 200,000 families. Neither the Pakistani authorities nor the textile business owners plan to make up for lost jobs.
According to the minister, in the past five years, more than 40% of the textile industry and about 200,000 power looms have been transferred to Bangladesh, causing employment difficulties.
He argued that not only Pakistan has a power crisis, but also other Asian countries have power crisis. He claimed that the power shortage will soon shrink, and the country will lower the price according to the requirements and improve Pakistan's investment environment.
Pakistani textile minister Makkhodoom Shahabuddin confirmed on Tuesday that Pakistan’s textile industry is gradually shifting to Bangladesh to seek more profits, and industry leaders believe that the relocation was prompted by the interruption of Pakistan’s electricity and natural gas.
Bangladeshi authorities set up export processing zone special zones for Pakistani textile manufacturers to help them establish business. Energy-scarce Bangladesh is also trying to increase its electricity and natural gas supply for its important export industries.
The company's original textile center in southern Pakistan's Punjab Province had an indirect influence on the work of 60,000 workers and nearly 200,000 families. Neither the Pakistani authorities nor the textile business owners plan to make up for lost jobs.
According to the minister, in the past five years, more than 40% of the textile industry and about 200,000 power looms have been transferred to Bangladesh, causing employment difficulties.
He argued that not only Pakistan has a power crisis, but also other Asian countries have power crisis. He claimed that the power shortage will soon shrink, and the country will lower the price according to the requirements and improve Pakistan's investment environment.
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