Power loom industry facing shut down due to high fluctuation in USD to PKR in Karachi
epa10617147 A man works at a power loom factory in Karachi, Pakistan, 09 May 2023. Pakistan's textile industry has faced a significant decline in exports due to a decrease in the dollar price of cotton, which makes up 40 percent of the cost of most textile exports, leading to the closure of thousands of power looms and the joblessness of thousands of laborers, provisional data released by the All Pakistan Textile Mills Association (APTMA) showed. EPA/SHAHZAIB AKBER
