Pakistan : Strengthen Pak's value-added textile sector: FCCI chief

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Strengthen Pak's value-added textile sector: FCCI chief

02
Nov '16

Value-added textile sector has the potential to safeguard the national economy of Pakistan, according to Faisalabad Chamber of Commerce and Industry (FCCI) president engineer Muhammad Saeed Sheikh. Addressing a delegation of Faisalabad Dyes and Traders Group, he said that this sector is the only available solution to improve foreign remittances.

He further added that Pakistan's common objective should be to strengthen value-added textile and its ancillary sectors.

According to Shiekh, it is vital to focus on the textile processing industry for the revival of the economy as it has capacity to manufacture shirts from half metre fabric and also sell them in the international market at a good price, reported a leading daily. The economy of Pakistan is also totally dependent on textile exports and foreign remittances, said Sheikh.

“Textile processing industry has been heavily taxed; this has already made us unviable and uncompetitive with our regional neighbouring countries,” said Sheikh, pointing out the stringent rules and policies for the industrial sector. Further, he also mentioned about shortage and high tariffs of electricity and gas. He added that despite of these negative factors, the core issue is the policy. He termed the current policy as anti-textile and anti-industry.

He emphasised that Pakistan should adapt single-window system for domestic manufacturers so it will become easier to deal with ministry of industry and all other related departments. (RR)

Fibre2Fashion News Desk – India

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