Over 100 Factories Shut Down in Faisalabad Amid Rising Costs – Startup Pakistan

The textile industry in Faisalabad is in serious trouble. More than 100 factories, including Sitara Textile Mills, have shut down because of high energy costs and increasing markup rates.

As a result, between 150,000 and 200,000 workers have lost their jobs, and more could follow if the government doesn’t step in.

The factory closures have already caused a major impact, with those still operating cutting their production by up to 40%.

The situation could get even worse if nothing is done soon. There are warnings that even the factories that are still running might have to close if energy and gas prices stay high and if the markup rate isn’t reduced to single digits.

Immediate action is needed to prevent further job losses and more factory closures.