Dr Shahzad Arshad, Chairman, Pakistan Cotton Fashion Apparel Manufacturers and Exporters Association (PCFAMEA), in a press statement has appealed to Federal Minister of Commerce Makhdoom Amin Fahim & federal minister of industries and production Mian Manzoor Ahmad Wattoo & federal minister of economic affairs Hina Rabbani Khar Saheba, & advisor to the ministry of textiles Dr Mirza Ikhtiar Baig to look into the day by day worsening situation of the textile industry of country.
Arshad said, it is worth mentioning here that textile industry contributes to 67 percent of our total export and provides employment to 40 percent of the industrial labour of the country and contributes to 10 percent to the GDP.
He said, if immediate notification of the continuation of R & D, for the textile sector will not be issued, then the future of textile industry, and specially the most value added apparel sector, will further go into drastic stage.
Dr Arshad said to save the economy of country, we have no other option but to enhance our productivity and enhance our exports to save the most important industry. The govt of Pakistan must immediately announce the continuation of R&D. So that, the export orders could be booked and the textile industry could continue to work.
He further said that at the moment, the textile industry is passing through one of the most critical time, in its history, and the core issue is that the cost of doing business in Pakistan, is constantly going up.
Further, Dr Arshad said that the price of utilities which includes, electricity and gas, should be reduced for the textile industry and specially for the export oriented units.
And also the discount rate for the export-oriented units should be reduced, and this action has to be taken by the ministry of finance, ministry of commerce and state bank of Pakistan. He said, we the textile manufacturers and exporters, don't have much time left with us, and the industry is reaching towards the point of no return.
And this is a hard fact, that once the industry closes down, then it is practically not possible to revive it again. Based upon above, Dr Shahzad Arshad said the govt of Pakistan, should immediately take the textile sector issues on its top priority list, otherwise, the textile industry will reach towards the point of no return and in result there will be a massive unemployment in the country.-PR
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