By Menahill Rashid
FAISALABAD: The Minister of state for information & broadcasting Farrukh Habib has said that Government is fully committed to expedite growth of commerce to maximum possible level by using all available means. He assured full support and enabling environment to increase exports, besides creating sustainable jobs to alleviate poverty.
Addressing the members of Pakistan Textile Exporters Association (PTEA), Farrukh Habib has said that Government have strong believes that economic revolution in the country can only be possible through trade promotion and all possible support to export sector is being extended to achieve optimum growth.
Textile industry is the backbone of economy and remedial measures to overcome the challenges are being taken to uplift this sector. He said that overseas Pakistanis had full trust in the leadership of Prime Minister Imran Khan, adding: “This is the reason that they are now sending money through banking channels.” “During the first 10 months of current fiscal year, an amount of US$ 24 billion has already been received,” he said.
With regard to the Government’s economic achievements, he said that country’s exports surged by 13.5 per cent, while the large-scale manufacturing grew by 9 per cent. Likewise, the foreign exchange reserves had reached US$23 billion. He hoped that the exports would reach $26 billion by the end of current fiscal year as it was expected that the export of textile items would alone contribute between $15-16 billion.
With support to the farmers, coupled with increase in minimum support price had resulted in bumper crops of rice & wheat. Government had been giving special attention to the food security as prime minister is very concerned in that regard.
Earlier, Chairman PTEA Muhammad Ahmad, in his welcome address, commended Government’s policies and Prime Minister Imran Khan’s revolutionary steps to enhance exports. He said that confidence of the business community has been restored as a result of Government’s prudent economic policies, which has accelerated the economic process in the country.
As a result of Government’s growth-led initiatives especially market based flexible exchange rate, energy package for export sectors, timely refund payments and availability of LTFF and TERF at subsidized rates, textile export sector has come on track and our exports have witnessed positive growth, he said. Textile value chain has created 50000 new job opportunities; whereas 100 billion rupees investment is in pipeline which will further create 100000 more job opportunities.
