ISLAMABAD: Pakistan can increase manifold the export of textile products to several countries if the government facilitates entrepreneurs and growers of cotton in the country, WealthPK reports.
Hamid Zaman, the chairman of All Pakistan Textile Mills Association (APTMA) for Punjab Zone, said that the textile sector had great potential. He said that it needed only a little help from the government to increase the export of textile products.
According to the Pakistan Bureau of Statistics (PBS), textile exports from the country grew by 0.67 percent in the month of July. However, Hamid Zaman claimed that the textile exports could grow a lot more than the said ratio.
He said that an investment of $5 billion was made in the textile sector during the last three years. However, he said that government couldn’t provide energy to the sector as per its requirements. Moreover, there was a recession in the whole world that also hampered the growth while interest rates in Pakistan were also higher, he added.
Hamid Zaman said that a delegation of APTMA met Federal Minister for Finance Miftah Ismail to discuss the issues of the sector. He said that the meeting was very good and the government was ready to solve the problems of the textile sector. “We put forward our demands including fixing power tariff at 9 cents per kWh and revival of zero rating on value-added tax,” he added.
He said that the textile sector was facing a shortage of cotton, the raw material for the industry. He said that Pakistan imported cotton in addition to its local produce to fulfil local needs. He said that the cultivation area of cotton was squeezed and overtaken by other crops, particularly sugarcane.
Hamid Zaman said that the revival of cotton production was also on the cards and the government need to increase the cultivation area and provide incentives to the growers. “Unless the growers are given benefits for the cultivation of the cotton crop, this sector cannot improve,” he added.
He said that the government should provide quality hybrid seeds, pesticides and other technical support to the growers. APTMA has formed a cotton committee in this regard which is looking into the problems faced by growers. “The textile sector of Pakistan has the potential to export items worth $25 billion dollars,” Hamid Zaman told WealthPK.
According to the PBS, the share of textile products in Pakistan’s total exports was 60 percent. The sector has provided jobs to 40 percent of the industrial labour force in the country. It is the major industrial sector of the country that plays an important role in its economic growth.
-INP
