‘Textile sector has not received attention it deserves’ – Mr Gilani
June 29, 2009 - Pakistan
The Prime Minister of Pakistan, Mr Gilani, while speaking at the ground breaking ceremony of the Karachi Textile City said that, the new textile policy has been framed in close consultation with all stake holders and will be announced shortly.
He was full of praise for the textile sector, which he said connected the local people of Pakistan with each other and as well as with the rest of the world and also at the same time, accounts for nearly 50 percent of all export earnings.
He said, though Pakistan was the fourth largest producer of raw cotton in the world, it was the third largest consumer of the same and thereby successfully added tremendous value to the raw cotton by producing a host of value added products.
Delving out statistics, he said, nearly 8 percent of the GDP is contributed by cotton and its processing, nearly 25 percent of industrial value-addition originates from the sector and also 40 percent of industrial employment is linked to this sector.
But at the same time he said, the textile sector had not been able to realize its full potential value, due to favourable policies not being implemented by previous governments and the new textile policy will help correct the anomaly.
He also said that the textile industry had not received the attention it deserves and exhorted the stake holders to add value rather than export yarn or grey fabrics since the sector had the potential to do so.