Lahore: Following the decrease in the dollar value against the rupee, the prices of raw materials in the textile industry have started to decline.
According to news agencies, due to the dollar’s depreciation, the cost of raw materials in the textile industry has decreased by approximately 20 to 25 percent. As a result, with reduced production costs, industry leaders have resumed operations of previously shut-down units.
With the gain in the value of the rupee against the dollar, raw materials have become more affordable. Regarding this matter, former President of the Chamber, Atif Munir, mentioned that the reduced production costs will make it easier to export products to European and American markets.
He stated that at the international level, the prices of dyes and chemicals, which are the fundamental raw materials of the industry, have decreased by 20 to 25 percent. Furthermore, the reduced price of thread has also revived the business in the market.