ISLAMABAD – Pakistan’s textile industrialists are willing to invest $5billion in the sector.
This was revealed by the group leader of All Pakistan Textile MillsAssociation (APTMA) Gohar Ejaz, as China is pulling out of the textileindustry in Pakistan.
While talking to the media, Gohar stated that the textile industry isfocused on exports primarily. “The domestic consumption has been curtailedin other sections, however export factories are working at 100 percentcapacity,” said Gohar.
The industrialist added that the textile industry is competitive incountries where average earnings are less than $100-150. “We have the rawmaterial, technology, and labor,” he said, adding, “We are globally viableand there is a demand for our product after 10 years”.
The group leader urged the government to implement a uniform policy for thetextile industry.
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Previously, APTMA Punjab’s Senior Vice Chairman Abdul Rahim Nasir hadrequested the government to form a five-year policy for textiles andclothing to attract long term investment.
He said that the textile industry is planning to establish as many as 1000plants near major textile producing cities, including Lahore, Sheikhupura,Faisalabad, Kasur, Multan, Sialkot, Rawalpindi, Karachi, and Peshawar.
Nasir said that Pakistan’s textile and clothing export share in globaltrade has dropped from 2.2 percent to 1.7 percent therefore, new investmentis needed urgently. However, he stressed that the textile exports couldincrease to $50 billion from the existing level of $13 billion if thegovernment ensures a long term policy for the textile industry.
