Tag: collapsing

Fast collapsing textile sector

| | No Comments

article image PAKISTAN’S textile industry is fast collapsing after the closure of around 100 textiles mills and their Non-Performing Loans (NPLs) are massively rising, causing more setbacks to the struggling economy. Out of total of 250 textiles mills, these 100 mills located in Punjab and Sindh are feared to have added another Rs3 billion in the already piled up Rs630 billion NPLs by the end of June 2015, up 5.8 per cent from a year ago. Though most of the increase in NPLs came from the…Read More