All Pakistan Textile Mills Association Chairman S. M. Tanveer has urged Premier Nawaz Sharif to appoint a federal minister to oversee the Ministry of Textile Industry but criticised a move merging the Ministry of Textile Industry with that of commerce for not being "prudent".
He said the Ministry of Textile Industry was formed to resolve issues of the textile industry. "Presently, the textile industry, the mainstay of the economy, is passing through a turbulent phase. Textile mills are closing down their operations because of becoming unviable and of various reasons concerning energy insecurity, un-affordability and the high costs of business.
He said textile exports had seriously declined in quantity terms leading to significantly reduced production. "This has resulted in rampant unemployment and impairment of agricultural linkages causing adverse affect on the cotton economy," he said.
He also said the new 2014-2019 Textile Policy was announced, however, its recommendations had never been perused and notified. "One and a half year of the policy duration has already elapsed. No new investments have taken place with investment decisions having been kept pending. The stalemate has caused a loss of opportunity with regard to creation of new jobs, increasing exports, utilisation of GSP+ market access opportunity," he added.
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