Textile policy decision hitting the industrial sector.

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said the sudden decision of the government to withdraw textile policy 2020-25 has shaken the country's productive sector.

The move will affect production and exports in such a way that their recovery will become a dream, he said.

Mian Zahid Hussain said that the decision has resulted in sleepless nights for investors and exporters as it has fanned uncertainty and unrest.

Talking to the business community, the veteran business leader said that the textile sector, which is the largest exporter and employs millions of people and playing with clearly violates national interests.

He said that following the announcement of textile policy 2020-25, investors pumped billions in the textile sector while many projects were in the pipeline which will be in jeopardy.

He said that the textile and associated sectors were taking off after a long time but the recent decision will cause a crash wasting all the efforts to promote production and exports while the country's reputation in the export markets will be at stake.

Mian Zahid Hussain said that the Ministry of Finance is of the view that hundreds of billions of rupees were given to the textile sector but its performance is not as expected by the government.

This sector is receiving tremendous benefits compared to their current performance which is...