Pakistan’s export sector will soon reap the benefits of Rs 180 billion package for textile, announced by Prime Minister Nawaz Sharif, said Federal Secretary, Ministry of Textile Industry, Hassan Iqbal while inaugurating the 10th international textile machinery and garment technology exhibition, IGATEX Pakistan 2017 – Exhibition and Conference, here on Wednesday at Karachi’s Expo Centre.
He said that the textile sector contributes 55 to 60 per cent to the exports of the country and that is why the government takes extra measures to resolve the issues of the sector on a priority basis. “It is the priority of the government to meet the energy needs of the textile sector,” he added.
He said that holding of such exhibitions will benefit Pakistan’s export sector as more international companies are coming to showcase their latest machinery and technology which would enhance the sector’s productivity. He asked Pakistani traders to take full advantage of the exhibition and extend their support.
In the event, organized by FAKT Exhibitions, more than 550 companies of 35 countries are participating with their latest machinery. “It is indeed a great moment and matter of pride for Pakistan that such a huge number of foreign participation is being witnessed in this event,” said the secretary.
Replying to a question about the production of cotton, Hassan Iqbal said that Central Cotton Committee was working on the production of cotton and 6 new varieties of cotton were introduced in the country, three in Sindh and three in Punjab. “We will achieve 14 million cotton bales target this year. Cotton production from Baluchistan is also expected to yield better results,” he added.
The geopolitical situation and law and order are also to be blamed for the decline of exports from Pakistan, he responded to a question regarding declining exports from Pakistan.
CEO of FAKT Exhibitions Mohammad Saleem Khan Tanoli while talking to media said that Pakistan needs modern machinery and technology and this event provides avenues to traders and industrialists to benefit from it. As many as 73 Italian, 70 German, 50 Chinese, 25 Turkish and 80 Pakistani companies have displayed their products, he informed.
Tanoli stressed the need for introduction of latest technology and machinery in the country in order to minimize growing trade imbalance. Country’s export will only increase if modern technology and value addition methodology is adopted,” he added
The exhibition is playing vital role in the introduction of most modern machinery to the local industrialists and increase the national productivity, Tanoli noted.
Former Advisor to Prime Minister Mirza Ikhtiar Baig was also a guest on this occasion. He urged the government to address the refund issues of the business community on a priority basis.
