Remedial steps under way to rescue textile sector
Minister says economic revolution can only be brought through trade promotion
PHOTO: REUTERS
FAISALABAD:
Economic revolution in the country can only be possible through trade promotion and the government is extending all possible support to export industries in an effort to achieve optimum growth, said Haji Akram Ansari, Minister of State for Commerce and Textile Industry.
“Textile industry is the backbone of the national economy and remedial measures are being taken to save this sector,” declared Ansari while speaking at the annual general meeting of the Pakistan Textile Exporters Association (PTEA).
‘Textile industry consumes more water than needed’
“The government is fully committed to expediting the growth of commerce to the maximum possible level by using all available means. The prime minister’s package has helped in attaining competitive edge in the international market,” he said.
Ansari underlined the need for serious and well-planned efforts for increasing value addition, especially in the textile sector, for capturing a higher share in regional and international markets.
“With support of the masses, we will overcome the challenges being faced by the country,” he said while emphasising that the future of Pakistan was very bright and all resources would be mobilised for developing the country according to the wishes and dreams. Speaking on the occasion, Punjab Minister for Commerce, Trade and Industries Sheikh Allauddin said the government was committed to providing all possible facilities to the business community, which was playing a major role in bringing economic stability.
He expressed the belief that no country could achieve economic targets without the due role played by exporters and said the government was making efforts to overcome the export challenges.
Earlier, newly elected PTEA Chairman Shaiq Jawed argued that the rising cost of doing business had not only stalled fresh investment in the textile industry, but it also hampered export growth. He asked the government to devise a comprehensive strategy to counter the issue in order to accelerate the pace of industrialisation and save livelihood of millions of workers.
‘Govt responsible for decline in textile exports’
“Pakistan’s exports are under pressure due to prevailing economic, financial and industrial crisis as well as persistently high cost of production, heavy burden of taxes and high energy cost,” he said.
Outgoing PTEA chairman Ajmal Farooq, presenting his annual report, termed the prime minister’s export package and payment of long outstanding tax refunds positive moves, which would definitely help accelerate industrialisation in the country.
“Our exporters have held their ground against heavy odds and achieved the targets,” he remarked.
Published in The Express Tribune, September 22nd, 2017.
Economic revolution in the country can only be possible through trade promotion and the government is extending all possible support to export industries in an effort to achieve optimum growth, said Haji Akram Ansari, Minister of State for Commerce and Textile Industry.
“Textile industry is the backbone of the national economy and remedial measures are being taken to save this sector,” declared Ansari while speaking at the annual general meeting of the Pakistan Textile Exporters Association (PTEA).
‘Textile industry consumes more water than needed’
“The government is fully committed to expediting the growth of commerce to the maximum possible level by using all available means. The prime minister’s package has helped in attaining competitive edge in the international market,” he said.
Ansari underlined the need for serious and well-planned efforts for increasing value addition, especially in the textile sector, for capturing a higher share in regional and international markets.
“With support of the masses, we will overcome the challenges being faced by the country,” he said while emphasising that the future of Pakistan was very bright and all resources would be mobilised for developing the country according to the wishes and dreams. Speaking on the occasion, Punjab Minister for Commerce, Trade and Industries Sheikh Allauddin said the government was committed to providing all possible facilities to the business community, which was playing a major role in bringing economic stability.
He expressed the belief that no country could achieve economic targets without the due role played by exporters and said the government was making efforts to overcome the export challenges.
Earlier, newly elected PTEA Chairman Shaiq Jawed argued that the rising cost of doing business had not only stalled fresh investment in the textile industry, but it also hampered export growth. He asked the government to devise a comprehensive strategy to counter the issue in order to accelerate the pace of industrialisation and save livelihood of millions of workers.
‘Govt responsible for decline in textile exports’
“Pakistan’s exports are under pressure due to prevailing economic, financial and industrial crisis as well as persistently high cost of production, heavy burden of taxes and high energy cost,” he said.
Outgoing PTEA chairman Ajmal Farooq, presenting his annual report, termed the prime minister’s export package and payment of long outstanding tax refunds positive moves, which would definitely help accelerate industrialisation in the country.
“Our exporters have held their ground against heavy odds and achieved the targets,” he remarked.
Published in The Express Tribune, September 22nd, 2017.