6th International Garment, Textile Machinery and Accessories (IGATEX) exhibition 2010 opened up at the Expo Centre Lahore on Friday. Advisor to Prime Minister on Textile, Dr Mirza Ikhtiar Baig inaugurated the three-day exhibition attended by 450 foreign firms from 33 countries, including 20 from neighbouring India.
He said Pakistan has embarked on wide-ranging initiatives for the growth in textile sector. The new Textile Policy 2009-2014 announced by the government of Pakistan sets ambitious target of $25 billion till 2014 and allows various incentives including concessional financing (LTF) to encourage capital investment in value added textile industry.
Considering the importance of textile industry, he said, the government has identified textile as a key priority area and is making all possible efforts to encourage private sector investment in value addition and expansion under BMR to spur production capacity. He said government has withdrawn duties and taxes, making it true zero rating, on imports of textile plants and machinery to encourage investors. According to him, it should be an encouraging sign for those exhibitors exporting textile machinery to Pakistan.
Further, he said, the EU offer of three years trade concessions to 75 Pakistani products would also attract fresh investment to the textile industry, which again justifies the holding of this massive scale exhibition. He said Pakistan was also approaching Canada, Australia, New Zealand, Turkey and Russia for trade concessions and market access similar to the EU. He also mentioned about the Reconstruction Opportunity Zones (ROZs) initiative from the US government.
While expressing good luck to all foreign exhibitors/delegates, he expressed confidence that textile sector would keep its dominance role in Pakistan economy. Central Chairman All Pakistan Textile Mills Association (APTMA), Gohar Ejaz said in his address that socio political situation has hampered investment in textile over the last few years, showing revival in recent past. He said Pakistan's textile sector was growing at a rate of 20 percent per annum.
According to him, it is only trade and not aid that could resolve Pakistan problems. He said some 80 countries were already enjoying GSP plus status world-wide. The EU has offered small but a big opening to Pakistan trade and appreciated the EU understanding, as more than one million families are likely to be economised within one year.
In addition, he expressed the hope that $5 billion investment would take place in next three years, generating more jobs. Gohar said only trade and consistent policies can save Pakistan and urged the international community to help it out further on this front.
Arif Mansoor Khosa, COO Expo Centre Lahore, said the Expo Centre Lahore was holding such a mega international event for the first time. He said it is 10th event at the Expo Centre Lahore since May this year and the management has already booked 36 exhibitions until 2011. Salim Khan Tanoli from CEMs conference and exhibition management services and Abbas Meraj from texmap also spoke on the occasion.
Comments
Comments are closed.