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Due to the lockdown all over the country, industries are facing a lot of financial distress. The economy is not stable, the dollar rate is increasing, sales have been stopped due to lockdown, etc, have put the textile industry in a lot of trouble. This is considered the highest sales season of the year for the textile industry but due to the lockdown, all the manufacturing units and outlets are closed.
Maria.B. is one of the biggest textile giants with many outlets all over the country. Due to the current situation, they are facing a lot of economic challenges. According to the latest news, Maria.B. has decided to cut down employees’ salaries for the month of April instead of laying them off. A lot of people are criticizing this act as they see it cheap and inhumane.
It is also expected that many other industries will follow the same footsteps of Maria.B. to reduce their losses.