Industry News
Rieter’s Financial Commitment for Aid to Flood Victims in Pakistan: Severe Support to Local NGO
by Yvonne Heinen-Foudeh, Needle’s Eye Senior International Correspondent
The world’s leading supplier of systems for manufacturing yarn from staple fibers in spinning mills Rieter (based in Winterthur, Switzerland), is donating CHF100,000 CHF (US$106.318) to support relief efforts for victims in Pakistan following the devastating floods of the 2022 monsoon season. The aid will focus on rebuilding schools and helping local healthcare clinics to protect those who are most vulnerable.
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Flooding in Sindh Province, Pakistan, in September.
Photo: Fareed Khan/Associated Press
The disastrous floods have displaced nearly eight million people, killing more than 1,500 people – including hundreds of children – and have put millions of lives at risk of health hazards, according to the United Nations.
The money will be donated in equal shares to two local non-government organizations, Citizens Foundation and ZMT clinics. Citizens Foundation was founded in 1995 with the mission of providing education to less privileged children. The Foundation is now helping rebuild the schools destroyed by the floods. ZMT clinics aim to support the development of a comprehensive primary health care system in Pakistan. They are now setting up clinics to provide medical aid to flood victims.
According to a company statement for The NEEDLE’S EYE, Rieter has selected these organizations together with its partners in Pakistan. Both aid organizations were chosen based on their ability to provide fast and effective relief where it is needed most. Pakistan is an important textile hub, with textiles making up 60% of the country’s exports. Rieter has been in business for more than 225 years, has 18 production locations in ten countries, and employs a global workforce of around 5,590, about 16.4% of whom are based in Switzerland. In Pakistan, the company has been present since 1969.
For the full year 2022, Rieter expects sales of around CHF1,400 million. Rieter is listed on the SIX Swiss Exchange under the ticker symbol RIEN.
Donate website of the Pakistan Citizen Foundation: https://www.tcf.org.pk/donate/
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