SIALKOT (APP):China Pakistan Economic Corridor (CPEC) project has opended up fundamentals of industrial cooperation between the two friendly countries, paving way for new vistas of economic stability and development in Pakistan.
Chief Coordinator, Pakistan Readymade Garments Manufactures and Exporters Association (PRGMEA), Ijaz A. Khokhar said this while talking to APP here.
He underscored the need of taking on board the private sector, enabling it to play its instrumental role in setting up businesses in Economic Zones ."The government must provide an opportunity to private sector to streamline its studies for establishing businesses in Economic Zones ",he reiterated.
"We appreciate that present government has identified textile as a key priority area and is making strenuous efforts for formulating right policies and incentives to encourage private sector investment for value addition,and expansion. All this could lead to wider access to the international markets".
He highlighted that there were bright chances of joint ventures between Pakistan and China in the field of textile,adding that a number Chinese businessmen were considering establishing joint ventures and developing business collaboration with their Pakistani counterparts.
"Pakistan is transforming from being a stagnant economy to fast paced emergening economy as a result of the structural reforms introduced by the present government in the areas of investment, business and trade", he added.
However,he stressed upon the need of modernization and up-gradation of textile sector for greater value-addition and to cope with fast changing trends and challenges.
Ijaz suggested that textile sector should be facilitated,primarily by power tariff reducation.He added that this vital sector needs to be provided those facilities which are being enjoyed by its regional competitors."A separate head of account in tariff structure be declared, and established,alongside aggressive marketing plan for garments export in order to gain maximum benefits of GSP status etc",he concluded.