TEXTILE EXPORTS CAN EARN ADDITIONAL BILLIONS: MIAN ZAHID HUSSAIN.

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, MianZahid Hussain on Wednesday said textile exports can fetch extra billions of dollars for the country. The importance of textile sector has increased manifold in the current global economic scenario which must be realised, he said.

Speaking at a meeting of FPCCI Standing Committee for Textile, Dying and Processing, on video link in which business leaders from Karachi, Lahore and other cities participated, MianZahid Hussain said that the issues confronting textile sector should be resolved so that it can play an effective role in national development.

The veteran business leader said that increased taxes, costly energy, the demand for bank guarantees by gas utilities and delayed refunds has increased cost of doing business which should be reduced.

Chairman of the committee, Irfan Saeed said that the textile processing industry is in tatters which should be bailed out. Taxes, energy and exchange rate erosion has taken a toll on this important sector while the cost of raw material has been increased by 30 to 35 percent. This sector is finding it difficult to fulfil commitments dying and printing, therefore, duties on the import of raw material should be reduced, he demanded.

Deputy Convenor of the committee Tahir...