Textile woes: Ministry appeases industry over policy

Says all stakeholders would be consulted before its finalisation.

Our Correspondent January 16, 2015
$1b is the potential foreign exchange revived sick units could earn. PHOTO: INP

FAISALABAD: As a response to increasing concerns raised by industrialists over the textile policy issue, Ministry of Textile Industry Secretary Amir M Khan Marwat said that all stakeholders would be consulted.

Addressing members  of the Faisalabad Chamber of Commerce and Industry (FCCI), Marwat acknowledged the importance of the
textile sector, adding that  the ministry was making  efforts to facilitate the industry.

He said the draft of the new policy has been completed and a meeting would be called for its finalisation, which would feature all stakeholders.

“This should also make the policy more effective, realistic and result-oriented in order to fulfill the collective demands and re-fix priorities in addition to achieving futuristic targets,” he said.

Mian Farhan Latif, chairman FCCI standing committee on revival of sick industrial units, also underlined the importance of reviving sick units, which could earn additional foreign exchange of $1 billion in addition to creating several jobs.

He also narrated the progress made so far on revival of sick units and said that the owners are ready to clear their loan liabilities. However, Latif said they, in return, want the government to give them temporary relief in terms of rescheduling their loans.

He also said that a committee to revive sick units was constituted.

Published in The Express Tribune, January 17th,  2015.

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