Unemployment is increasing due to import curbs in Pakistan, the situation is getting worse day by day

The condition of Pakistan which is facing cash crunch is getting worse day by day. According to media reports, the unemployment crisis has arisen due to the curb on imports by the government to reduce the trade deficit. A large number of companies are either downsizing operations or shutting down production, reported Dawn newspaper. 

Non-availability of imported raw material in Pakistan

The main reason for this is the non-availability of imported raw materials. However, the official data regarding unemployment is being shown well. But things become clear from the position of listed companies in other sectors. Dozens of companies have issued notices to stop production in recent months.

Worse situation in Pakistan 

According to the report, curbing the import of raw materials to improve the trade balance is like biting one's nose. For example, the Turkish sponsor private company Danes has been closed since the beginning of 2023. The company has been facing import issues since May, 2022.