What Are The Problems That The Pakistan Cotton Textile Industry Is Facing At The Moment?
The entire economy of Pakistan depends a whole lot on the textile and cotton industry of the country. A major chunk of the foreign exchange that Pakistan earns comes from the various products of the textile industry. However there are many hindrances that stand in the way of Pakistan’s capability to utilize the wide scope of opportunities that the textile industry offers to the optimum extent. These problems are inclusive of a shortage of raw material that results from the presence of the leaf curl virus that comes in a consecutive series of four years. Another problem that the cotton industry faces in Pakistan is the state of recession in the international market for cotton. Besides this recession factor, the tough competition from rivals like Taiwan, Hong Kong, South Korea, Egypt and Thailand. Moreover there is paucity of institutional finance funds for the purpose of modernization of the cotton industry.
