(Bloomberg) — Pakistan’s small textile mills, which make products ranging from bedsheets to towels mainly for consumers in the US and Europe, are starting to shut after devastating floods wiped out its cotton crop.
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As many as 100 smaller mills have suspended operations due to a shortage of good quality cotton, high fuel costs, and poor recovery of payments from buyers in flood-hit areas, said Khurram Mukhtar, patron-in-chief of the Pakistan Textile Exporters…
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