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.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription
