The All Pakistan Textile Mills Association (APTMA) Punjab Senior Vice Chairman Abdul Rahim Nasir recently urged the Pakistani Government to come out with a five-year policy for textiles and apparel to attract long-term investment. He was speaking to a delegation of Trade & Development Authority of Pakistan (TDAP) at the APTMA Punjab office.
Nasir said the textile industry is planning to set up as many as 1,000 garments plants near major textile producing cities, including Lahore, Sheikhupura, Faisalabad, Kasur, Multan, Sialkot, Rawalpindi, Karachi, and Peshawar, according to a report.
He urged the government should allow long-term finance facility to both direct and indirect exporters for building infrastructure in addition to existing scheme for plant and machinery.
He said the prospective investors reluctant to make new investment decisions due to high cost of doing business and textile industry had lost technological advantage over competitors. The competitors were giving various investment incentives to promote investment, production and exports.
He lamented that Pakistan’s textile and clothing export share in global trade had dropped from 2.2 per cent to 1.7 per cent, and therefore, fresh investment is an urgent need.
