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Augment trade instead of aid – Minister tells US
Apr '10
President, Asif Ali Zardari and Prime Minister, Yousaf Raza Gilani have been continuously trying to convince the USA and European Union that they should augment trade instead of providing aid to Pakistan.

Rana Farooq Saeed Khan, Minister for Textile Industry, informed about the aforementioned facts while delivering a Presidential speech at the first convocation of National Textile University on Monday, April 26.

Khan said that, during his and Prime Minister Gilani's recent visit to America, the latter urged the US authorities to ease bilateral trade relations, thereby, permitting Pakistani exporters an easy access into US. The US authorities were also requested to eliminate the trade barriers that hindered trade.

The Minster also admonished the Pakistani spinners for exporting yarn in bulk quantities to international market thereby, ignoring the Pakistani value-added industry's requirement; thus leaving the country's main economic contributing sector, in a catastrophe.

During the last year, in spite of severe virus attack on cotton plants, the country produced around 12.8 million bales of cotton. The minister, since then, has been quite hopeful that the country will soon attain its annual target of 15 million bales.

He said that the PPP government was completely aware of the energy crisis prevailing in the country and was trying hard to deal with the issue by raising electric generation through installation of power units.

He expressed grief that the opposition aggressively resisted and condemned the government's decision of installing Independent Power Units (IPUs) thus, discouraging and reducing the number of foreign investors interested in investing funds in these projects.

Fibre2fashion News Desk - India

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