How US China trade war is impacting Pakistan?
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*FAISALABAD - *The trade war between the US and China have proved to be a blessing in disguise for Pakistan.
Pakistani exporters are getting extra orders from the US in the prevailing circumstances and the it could easily double, said Faisalabad Chamber of Commerce and Industry (FCCI) President Syed Zia Alumdar Hussain.
Speaking to trainees of the Pakistan Institute of Trade and Development (PITAD) at the FCCI, Hussain said Faisalabad was a main industrial and economic hub of Pakistan as the city had Asia’s biggest sock manufacturing units, the largest knitwear factory, rice mill, yarn market and a state-of-the-art agriculture university.
“The share of Faisalabad in total textile exports is around 55%,” he pointed out. “Although textile is the mainstay of Pakistan’s economy, many other sectors like oil, chemicals and beverages are also contributing to the national economy in a big way.”
Regarding the impact of deteriorating US-China ties, he said Pakistan was already getting additional orders from the US, Tribune has reported.
“These orders could be doubled provided the government resolves the country’s liquidity problem by ensuring immediate payment of tax rebate, refund and Drawback of Local Taxes and Levies (DLTL) claims,” he said.
