'Pakistan's textile exporters should export finished products to foreign countries instead of shipping raw cotton so that maximum foreign exchange should be earned for the country.' Stressing upon the need for value addition, the Federal Minister for Textile, Rana Farooq Saeed asked the exporters to produce items that could compete in the world market.
He was addressing the members of Faisalabad Chamber of Commerce sand Industry (FCCI) and local exporters Tuesday. 'At present we are purchasing semi-finished cotton and selling it at higher prices after its processing. It is, therefore, imperative that we should send finished textile products to the western and European Union countries so as to fetch sizeable foreign exchange,' he said.
The Minister stressed upon the cotton growers to cultivate the BT Cotton in abundance to harvest maximum yield. He told that out of total of the world's cotton production, only 9percent cotton is produced in Pakistan but after switching over to cultivation of BT cotton, we could augment this ratio. Saeed announced that under Public-Private Partnership, the government would very shortly set up a Ginning Research Institute in Multan.
He also announced that the new five-year textile policy was on the anvil that would be announced after the approval of the Prime Minister and authentication by the Cabinet. He said that under the new textile policy, maximum possible relief will be afforded to the Industry. He announced that gas supply to the textile industry would be provided as per its being supplied to fertiliser units.
The Textile Minister further disclosed that the government would provide finance for the development of private sector in the country. The Secretary, Textile Ministry, Dr Waqar Masud also spoke on this occasion and explained salient features of the new textile policy. He told that the government was creating the Textile Development Fund besides initiating the public-private partnership schemes and development of skilled workers.
Earlier, the FCCI President, Mian Hamid Javaid in his welcome address demanded of the Minister Research and Development facilities for the industry so that it could compete in world market. He also demanded uninterrupted power and gas supply to the textile industry.
The Chairman, Pakistan Textile Exporters Association, Muhammad Yousaf, Chairman, Khurrian Wala Industrial Estate Association, Azher Majeed Sheikh, Chairman, Garment City, Sheikh Mukhtar Ahmed, Regional Chairman, All-Pakistan Textile Processing Mills Association, Mian Shabbir Ahmed and former Chairman, All-Pakistan Cotton Powerlooms Association, Chaudhry Abdul Haq also attended the meeting. At the closing of the meeting, FCCI Shield was presented to the Secretary of Textile Ministry, Dr Waqar Masud.