PM vows to address textile sector’s woes

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ISLAMABAD: Prime Minister Imran Khan on Friday assured a business delegation that the government would take all possible measures to address the issues hampering textile sector’s growth.

The prime minister was talking to a delegation of leading businessmen of textile and garments sector at the PM Office.

He said the promotion of garments and textile sector would not only provide huge employment opportunities but would also help curtail the difference between imports and exports.

The PM on the occasion was given a detailed briefing about the sector’s local capacity, hurdles in its progress and future policy for its promotion.

The prime minister was told that the textile sector contributed 3.3pc to the Gross Domestic Product (GDP) of Pakistan and there were numerous opportunities to increase its growth.

The meeting was also told that law and order situation, lack of financial help from banks, business impediments, unskilled labour and non-availability of long term policy were some of the problems that have been improved significantly during the last 12 months.

The prime minister was informed that a favourable environment and strategic measures could increase the exports of this sector up to $40 billion by 2030. The delegation, in this regard, also presented various suggestions.

The meeting was attended by Adviser to Prime Minister on Commerce Abdur Razak Dawood, State Bank of Pakistan Governor Raza Baqir, Punjab Commerce Minister Mian Aslam Iqbal, Labour Minister Ansar Majeed Khan and Board of Investment Chairman Syed Zubair Haider Gilani.

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