A textile mill. PHOTO: AFP
LAHORE: Federal Trade and Commerce Minister Pervaiz Malik has announced that an upcoming meeting of the Economic Coordination Committee (ECC) will approve a textile package as the country’s largest industry is always the top priority of the government.
Talking to media at the start of the China Electrical and Mechanical Machinery Expo 2017 at the Lahore Expo Centre on Saturday, Malik insisted that the recent hike in gas prices would not cause harm to the industrial sector.
Textile Sector: Committee concerned over exports
“The gas tariff hike is minimal and it will not affect industries,” he remarked.
Talking about economic relations with China, Malik said China always cooperated with Pakistan in every sector. “Establishing a chain of enterprises is also part of the China-Pakistan Economic Corridor (CPEC) project and this expo is a step in this direction,” he said.
Over 10,000 people including top-level machinery manufacturers, businessmen, entrepreneurs and investors of China and Pakistan were present on the first day of the three-day expo.
As many as 100 stalls were set up by Chinese manufacturing companies and around 200 Chinese businessmen from the machinery industry joined the expo in an effort to explore possibilities of joint ventures and partnerships with Pakistan’s machinery manufacturers.
Many consultancy firms have also set up their stalls to assist the investors.
‘Govt responsible for decline in textile exports’
Earlier, the trade minister, in his welcome address, said, “I extend my felicitations to all Chinese brothers for making this expo an advantageous activity both for Pakistan and China.”
China’s Consul General Long Ding Bin, while talking to media, acknowledged the initiatives taken by the Pakistan-China Joint Chamber of Commerce and Industry and E-commerce Gateway Pakistan.
“This is not merely an exhibition, but a direct interaction in which Pakistani companies, particularly young entrepreneurs, will get a golden opportunity to meet with Chinese success leaders in the machinery industry,” he said.
Published in The Express Tribune, September 10th, 2017.
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