First of all I would like to welcome you in Pakistan. It is also privilege for me that I am here to welcome Mr. Wu Xiu Hua and my Chinese friends who have history of deep-rooted relations with the people of Pakistan.
The strong and dependable economic relationship of China with Pakistan has already resulted in the development of roads infrastructure like Karakurum Highway, Indus Highway and up gradation of Railways.
The proactive and dynamic policies of this Government which were introduced as a part of reform agenda, the economy of Pakistan is able to achieve growth targets as envisaged. Textile being the main stay of Pakistan's economy, its contribution is laudable.
It is worth mentioning that during the last five years about US$ 5 billion have been invested in textile industry. The major investment in textile sector have been made to enhance the spinning capacity which is quite evident from the fact that 46% of the investment made during the last five years is in the spinning sector whereas 24% in weaving, 12% in textile processing, 5% in the knitwear and garments, 8% in the made ups and 5% in the synthetic garment sector. Presently about 65% of total exports is being contributed by the textile sector and 38% of total labour force is employed in this sector.
Pakistan imported textile machinery worth US$ 900 million during 2004-2005 from the other countries. There is great likelihood that this trend will go further for at least two to three years. The expected growth in the textile sector in the next five years is 6% for the spinning sector, 11% for the weaving sector, 12% for the knitwear industry and 10% for the readymade garments. If Pakistan keep up its present pace of development it can achieve the targets to export textile products worth US$ 16.5 million by year 2010.
To achieve all this Pakistan has to make substantial investment to up grade its existing infrastructure keeping in view the WTO Regime and other International Compliances. It is expected that Pakistan has to make investment worth US$ 6400 million till 2010.
These targets cannot be achieved unless industrialists of Pakistan have access to quality and cost effective machinery. China being the major manufacturer of textile machinery and keeping in view the track record of China, which always proved to be a reliable partner in the development initiatives, I think that "CHINA TEXMATECH COMPNAY" in collaboration with local entrepreneurs will open a new window for the Pakistani Industrialists. I also appreciate that "CHINA TEXMATECH COMPANY" has also established after sales & service centre at Lahore and Faisalabad which will take care of the problems, which may arise during the operation of the machinery.
This step will not only boost the confidence of the buyers but also increase the sale. Availing this opportunity I will also request Mr. Wu Xiu Hua and other distinguished members of the delegation that other avenues may be explored particularly in the field of weaving, dying and finishing sectors. It is every likelihood that Pakistani Industrialists will be requiring this type of machinery in next five years.
I will also like to draw the attention of the delegation towards the fact that Ministry of Textile Industry is establishing Textile City at Karachi and Garment Cities in Karachi, Lahore and Faisalabad. In these cities all the required facilities will be provided through one window and according to the international standards, with the objective to provide investment friendly environment for the industrialists to produce value added products.
Leading industrialist of Pakistan is managing all these projects/cities with government only acting as a facilitator. They are being facilitated at every level by the government to show its commitments towards the achievement of its goals of progressive and developed Pakistan.
In this regard I expect that Chinese Government/ Industrialists will also be investing in these Projects to foster the already strong economic relationship between to countries. It can prove to be instrumental for the development of Textile Industry in the region i.e. China, Pakistan and India. The possibility of shifting of the spinning industry from China to Pakistan can also be explored, in addition to this the other areas of cooperation in textile sector can also be looked into.
In the end I again pay my thanks to Mr. Wu Xiu Hua, Mr. Maqsood Ahmed Naz and the members of the Chinese delegation who have given me the opportunity to share my views with them.
The writer is (Excepts of speeches delivered on the occasion of a reception hosted by Olympia (Pvt) Limited at Faisalabad.
Thank You
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