No one to blame but ourselves

After two years of unprecedented profitability, Pakistan’s textiles and clothing exports are facing a strong demand downturn as consumers tighten their belts in the US, Europe and other markets. But Pakistani textile manufacturers aren’t the only ones experiencing this gloomy situation; the orders in the world’s every garment exporting country, including China, India and Bangladesh, have been slowing because of the Ukraine war’s impact on price inflation, interest rates and energy markets worldwide. With consumers in the US, Europe, and elsewhere worried about putting food on the table and paying heating bills, their textile and clothing budget is squeezing. “With food and energy prices going up, the consumers have stopped spending on bedsheets and clothing. This is why retailers and brands in the US, Europe, and elsewhere have slowed down their orders and asked their suppliers to delay the shipments,” Ahmed Kamal, chief executive of the Kamal Group, told this correspondent in an interview.