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Regular power & gas supply may fetch higher textile export earning
05 Feb '11
2 min read
Rana Farooq Saeed Khan, Minister for Textile Industry recently said that, if the textile sector gets regular electricity and gas supply, it can bring in US $16 billion to the country's economy by way of export earnings. Even with this unstable power supply, he said, the sector is certain to earn at least $13 billion.
An efficient load management plan has helped the textile industry to register growth, and thereby support the operations of the power loom sector, in spite of the power crisis, he said.
He further stated that, the Turkish officials have been contacted to avert the imposition of anti-dumping duty on export of textile items from Pakistan.
The Minister further said that, the Turkish Prime Minister, while on a visit to Pakistan, last year assured that they would work out and strengthen the mutual trade, and that if this duty imposition happens, it may cause Pakistan to lose millions of dollars in its export of textile items to Turkey.
He stated that, Turkey too will have to bear heavy losses, as it too will be required to pay high cost for importing textiles and garments from other countries, as Pakistan now exports superior quality textile products to Turkey at reasonable prices, than those offered by other countries in the region.
Pakistani Foreign Minister Shah Mehmood Qureshi along with the Commerce Ministry and Pakistan's High Commissioner is trying hard to shield the country against such anti-dumping duty imposition, Rana said.
An efficient load management plan has helped the textile industry to register growth, and thereby support the operations of the power loom sector, in spite of the power crisis, he said.
He further stated that, the Turkish officials have been contacted to avert the imposition of anti-dumping duty on export of textile items from Pakistan.
The Minister further said that, the Turkish Prime Minister, while on a visit to Pakistan, last year assured that they would work out and strengthen the mutual trade, and that if this duty imposition happens, it may cause Pakistan to lose millions of dollars in its export of textile items to Turkey.
He stated that, Turkey too will have to bear heavy losses, as it too will be required to pay high cost for importing textiles and garments from other countries, as Pakistan now exports superior quality textile products to Turkey at reasonable prices, than those offered by other countries in the region.
Pakistani Foreign Minister Shah Mehmood Qureshi along with the Commerce Ministry and Pakistan's High Commissioner is trying hard to shield the country against such anti-dumping duty imposition, Rana said.
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