The Sindh government has allowed on Saturday seventeen export mills in the city to start working.
The Sindh home department has issued a notification in this regard and permitted fourteen textile and three engineering mills to start working. It has further been learnt that the mills have been allowed to work due to their export orders. Furthermore, all of them are bound to follow the standard operating procedures (SOPs) issued by the government. Pakistan’s decision to reopen some factories comes after a global slowdown and the IMF predicting the world economy this year will suffer its worst recession since the Great Depression.
Pakistan had pinned its hopes of getting out of its regular economic boom and bust cycle through exports but they will fall by as much as 50% over the next couple of months, Dawood said. There will be a “slow recovery, very slow recovery,” he added.
