LAHORE - Reports from Pakistan suggest significant numbers of textile mills in key manufacturing hubs such as Khyber Pakhtunkhwa, Lahore, Faisalabad, Multan and Karachi are closing down voluntarily because they are unable to compete with low cost rivals in the likes of Bangladesh and Vietnam – threatening millions of jobs in the process. Textile exports from Pakistan totalled US $13.7 billion for the fiscal year ending June 30, 2014, however, monthly figures show that exports have been on the slide for the past twelve months, with the Pakistan Textile Mills Association suggesting that the high cost of doing business means that, for many mills, remaining operational is no longer sustainable. Nike, Levi Strauss, Gap, Target and Walmart are among international buyers from Pakistan.
