Caretaker commerce minister vows to reopen industries in 30 days
ISLAMABAD: According to ARY News, Dr. Gohar Ejaz, the interim Federal Minister for Commerce and Enterprises, has promised to reopen all closed businesses within 30 days.
Dr. Gohar Ejaz established a Rs. 25 billion export goal for the textile industry. He also demanded a list of all the nation’s closed manufacturing companies.
He had a crucial meeting with the Pakistan Textile Exporters Association (PTEA). According to Dr. Ejaz, the textile industry has set a Rs25 billion export goal for this year.
The trade minister stated that by September 30, all of Pakistan’s shut-down industries will restart. He said he will personally meet with business executives and other stakeholders.
decreased output
For the fiscal year 2023, major industrial production across several sectors had a considerable decline of 10.26%, according to data released earlier this month by the Pakistan Bureau of Statistics (PBS).
The Bureau of Statistics reports that industrial production decreased 14.96% from June of the prior year.
The textile industry stands out among those impacted by this loss, with an astounding 18.68 percent production decline. The pharmaceutical industry suffered a severe loss in output of 28.55 percent.
Production of cars fell by a staggering 49.99 percent within the selected time period. Additionally, there was a 64.43 percent decline in the production of machinery and equipment.
The Bureau of Statistics reports that the tobacco business has also slowed, with production down by 28.36 percent. Similar output declines of 6.43 percent and 6.90 percent were seen in the food and beverage industries, indicating a pattern of contraction.
The output of wood products decreased significantly from prior years, by 59.18 percent, according to the Bureau of Statistics. Production of optical and computer electronics also decreased by 30.34 percent, which added to the overall evaluation of diminishing industrial output.
In contrast to the general trend, the production of the leather goods business increased by 1.29 percent, demonstrating its tenacity in the face of difficulty. The furniture industry also resisted the trend, as output rose by 35.15 percent.
