Prime Minister Shaukat Aziz on Saturday said that textile is an important sector of the country's economy and Pakistan should focus on optimal utilisation of its strength since it comprises 63 percent of the country's exports. He was talking here at the Prime Minister House to a delegation of Karachi Cotton Association, led by Chairman Akberali Hashwani.
The cotton growers, ginners and textile manufacturers, he said, must receive fair price for their share and the policies in this regard should ensure that the interest of all stakeholders is protected.
The Prime Minister emphasised that since the cost of doing business in Pakistan is competitive, "we need to further improve labour productivity, for which the government accords top priority for skill development".
This, he said, would help enhance export of value-added textile products and facilitate in bridging the trade gap and strengthen the country's economy. The Prime Minister also underlined the need for development of better cotton varieties, which would increase the farmers' income as well as improve the standards of textile products.
The delegation highlighted the advantages of hedge market since it keeps a check on the volatility of prices and ensures stability in the market. They lauded the government's efforts for improved cotton production and modernisation of textile industry in Pakistan.
The meeting was attended by Adviser to Prime Minister on Finance Dr Salman Shah, Vice Chairman KCA Sohail Naseem, former Chairmen of KCA Zahid Bashir and Maqbool Saddiq, Secretary Textile Industry, Secretary Commerce and other officials.