The Founders Chairman, Khalid Javed Chaudhry, has said that radical steps should be undertaken to get the textile industry out of crisis. If no concrete measures were taken, the storm of unemployment would become unstoppable as a huge number of labourers are attached to this key industry.
He made this statement in an informal meeting with other members of The Founders, Pervaiz Hanif, Muhammad Hashim, Haji Muhammad Asif Yawar Irfan Khan Munir Ahmad Khan and Asif Rehan Dar, here on Sunday.
The meeting on this occasion observed that that there was no doubt that foreign investors wanted to invest in Pakistan which was a positive sign, and by virtue of it, the country's economy will be stronger than before.
The participants of the meeting called for reducing the rate of interest on the loans given to the textile industry so that it could flourish. Khalid Javed Chaudhry on this occasion demanded that sales tax and customs duty on the import of generators should be abolished because it would help ease the load-shedding effects on the industry.