Prime Minister Shaukat Aziz said that appropriate measures are being announced in new Textile policy to off set the high cost of production of exportable goods to maintain competitive edge in the international market.
He said that new textile policy will be announced after the conclusion of budget debate in National Assembly. He was talking to Rana Arif Tauseef Chairman Pakistan Textile Exporters Association in an exclusive meeting at Governor House last night.
Prime Minister said that he was cognizant of the crisis in textile sector that frequent increases in cost of Electricity, Gas, Petroleum and rates of Bank Credit. Pakistan exporters have become costly and were uncompetitive in the international market.
His government was considering various options to provide succours to textile sector will be announced in new textile policy Chairman PTEA Rana Arif Tauseef apprised the Prime Minister with support of official statistics that rival countries like Bangladesh and India were comparatively cheaper in wages being 22.6 cents in Bangladesh against 38.7 cent per hour of Pakistan, while electricity was Rs 5.87/ kWh in Pakistan and in Bangladesh it was Rs 3.38/Kwh. Bank Credit rate was 9.10% in Pakistan 7% in India and 5% in Bangladesh he added. How can Pakistan compete with its rivals in international market.
Prime Minister Shaukat Aziz agreed with the argument fielded by the Exporters and assured that level playing field would be provided to Textile.
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