Faisalabad Once known as Manchester of Pakistan Converting in Graveyard of Textile Industry. Raftar
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Faisalabad Once known as Manchester
Faisalabad Once known as Manchester of Pakistan Converting in Graveyard of Textile Industry @raftartv
In this video, we explore the struggling state of Pakistan's textile industry, specifically in Faisalabad, once known as the 'Manchester of Pakistan'. The city's textile sector was a major part of Pakistan's economy, contributing $15.5 billion to its annual revenue of $25 billion. However, this once flourishing city is on the brink of losing its identity.
Our discussion revolves around the political tension, the economic instability, and how it's affecting not just the large-scale industries, but also the small and medium enterprises. The textiles industry, which used to comprise of 423 mills in the country, with a large portion centered in Punjab and Faisalabad, is now seeing a rapid decline. We delve into the reasons behind the decrease of exports by 27%, the struggle of maintaining production costs, and the growing unemployment rate.
Additionally, we highlight how the sector is failing to adapt to technological advancements, clinging onto outdated methods while the rest of the world moves forward. A comparison is made with the rapid progress in the automobile industry in Korea and the consequent economic boost it brought.
Moreover, we discuss the issue of local investors shifting their focus to other businesses like real estate, thereby draining the textile industry of vital capital resources. The result is a crippled textile hub, with major brands closing down their flagship stores and an economy in peril.
Finally, we question who should bear the responsibility for this precarious situation - the government, the self-employed, or others? This video provides a deep understanding of Pakistan's economic situation, especially in terms of its textile industry, and seeks potential solutions to improve the status quo.
Don't forget to like, share, and subscribe for more insightful discussions.
#pakistaneconomiccrisis #faisalabad #textileindustry #pakistaneconomy #pakistaneconomycrisis #pakistaneconomycollapse #pakistanexports #export #exportimport #manchesterofpakistan #inflation #pakistanlatestnews #pakistanlatest #pakistanbreakingnews #dollar #imf
For more amazing content, SUBSCRIBE NOW!
YouTube
@raftartv
YouTube
@raftarnewsofficial
YouTube
@raftarsports
Website:
https://raftar.com/
In this video, we explore the struggling state of Pakistan's textile industry, specifically in Faisalabad, once known as the 'Manchester of Pakistan'. The city's textile sector was a major part of Pakistan's economy, contributing $15.5 billion to its annual revenue of $25 billion. However, this once flourishing city is on the brink of losing its identity.
Our discussion revolves around the political tension, the economic instability, and how it's affecting not just the large-scale industries, but also the small and medium enterprises. The textiles industry, which used to comprise of 423 mills in the country, with a large portion centered in Punjab and Faisalabad, is now seeing a rapid decline. We delve into the reasons behind the decrease of exports by 27%, the struggle of maintaining production costs, and the growing unemployment rate.
Additionally, we highlight how the sector is failing to adapt to technological advancements, clinging onto outdated methods while the rest of the world moves forward. A comparison is made with the rapid progress in the automobile industry in Korea and the consequent economic boost it brought.
Moreover, we discuss the issue of local investors shifting their focus to other businesses like real estate, thereby draining the textile industry of vital capital resources. The result is a crippled textile hub, with major brands closing down their flagship stores and an economy in peril.
Finally, we question who should bear the responsibility for this precarious situation - the government, the self-employed, or others? This video provides a deep understanding of Pakistan's economic situation, especially in terms of its textile industry, and seeks potential solutions to improve the status quo.
Don't forget to like, share, and subscribe for more insightful discussions.
#pakistaneconomiccrisis #faisalabad #textileindustry #pakistaneconomy #pakistaneconomycrisis #pakistaneconomycollapse #pakistanexports #export #exportimport #manchesterofpakistan #inflation #pakistanlatestnews #pakistanlatest #pakistanbreakingnews #dollar #imf
For more amazing content, SUBSCRIBE NOW!
YouTube
@raftartv
YouTube
@raftarnewsofficial
YouTube
@raftarsports
Website:
https://raftar.com/
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