Textile industrialists willing to invest $5 billion : APTMA
Gohar Ejaz also called for the implementation of a uniform policy for the textile industry.
The Group Leader All Pakistan Textile Mills Association (APTMA) Gohar Ejaz has stated that the country’s textile industrialists are ready to pour $5 billion of investment into the sector as China is pulling out of textiles.
During a news briefing, Gohar Ejaz said that the textile industry is currently the only industry working in Pakistan.
“The domestic consumption has been curtailed in other sections, however export factories are working at 100 percent capacity,” added Gohar Ejaz.
He further added that the Pakistani Textile Industry is still globally viable after 10 years because it has raw material, technology, and labor.
Gohar Ejaz also called for the implementation of a uniform policy for the textile industry. Recently, the APTMA Punjab Senior Vice Chairman Abdul Rahim Nasir had also called for the government to provide a five-year policy for textiles and clothing to attract long term investment.
He also said that fresh investment in the textile sector was the need of the hour as Pakistan’s textile and clothing export share in global trade has witnessed a significant drop from 2.2 percent to 1.7 percent.
According to Abdul Rahim Nasir, if the government ensures a long term policy for the textile industry the Pakistan textile export could go up to $50 billion from the existing level of $13 billion.
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