Only a comprehensive relief package from government can steer the hard hit country's textile sector out of the crisis, said leading textile miller, Mian Fraz Alam.
In a statement issued here on Friday, Faraz said that government's efforts to boost country's exports to $35 billion by the year 2010 had become just futile due to the ongoing crisis in textile sector which formed about 60 per cent of Pakistan's exports.
He said that recent hike in the tariff of electricity and gas, widening gap between generation and production of energy and the increased mark up on loans had made textile business economically non-competitive.
Besides, he said, non-availability of skilled manpower for textile sector especially the garments industry led to decrease in the share of Pakistan's share in the mutli-billion international market of garments. This market is now dominated by the countries like China, India, Vietnam and Bangladesh, he added. He said that it is high time to take immediate measures to bring the textile sector out of the crisis.-PR
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