Factories in Faisalabad, including prominent textile mills, have shut down due to rising costs.
The primary causes of these closures are rising interest rates and rising energy costs, which have made it difficult for businesses to operate.
This crisis has left workers unemployed, a situation that is expected to worsen if no relief is provided.
The situation is already dire, with most factories no longer accepting new export orders and only fulfilling existing commitments.
Further closures are anticipated, and business leaders have expressed concern about multinational companies relocating their operations from Pakistan.
Some companies have already moved their back offices abroad, and there is a growing trend of Pakistani companies registering in other countries.
The government has been urged to step in to lower electricity and gas prices and reduce interest rates to prevent more mills from ceasing operations. Business leaders emphasized that relief is needed to address the crisis in the textile sector.
