News Column

Govt to re-operate closed textile units to boost exports: Khurram

July 17, 2014

Minister for Commerce Engineer Khurram Dastagir Khan on Wednesday reiterated government's commitment to re-operate the closed textiles units in order to enhance its annual exports to US $ 1 billion and create 100,000 new jobs for the people in the country.

"The government with the cooperation of the private sector is formulating a strategy for re-operating of the closed textile units while the State bank of Pakistan (SBP) and the banks would be negotiated and convinced for the rescheduling of the loans of the textile industry for resolving their financial problems", he said while talking to a delegation of Faisalabad Chambers of Commerce and Industry (FCCI) which called on the Minister here at his office today.

Khurram Dastagir told the delegation that Moody's International has increased the credit rating of Pakistan from negative to the stable while the human rights and political stability in the country has improved the economic indicators.

"These situation would help restore the confidence of the investors and encourage buyers in the international markets for Pakistani goods", he remarked.

The Commerce Minister directed the business delegation to provide him details regarding the close textile units with their specific reasons and also inform him the data of the employees rendered jobless due to the closure of these units so that the Ministry would formulate its recommendations regarding the close units.

Khurram Dastagir was informed by the delegation that due to the reopening the sick units would help provide employments to upto 30,000 women workforce in the country besides recapturing of the international markets for the Pakistani textile goods.

Khurram Dastagir Khan on the occasion stressed the need for the value addition of textile goods for enhancing exports of the country.

He told them that Pakistan is earning US $ 4-5 for one kilogram cotton while it's the vision of the government to enhance its value to more than US $ 15 per KG.

The delegation told the Minister that the representatives of the chambers were informing the various international Non Government Organizations (NGOs) regarding the facilities being provided to the workers relating to the textile industry according to the internal laws which is also expecting the positive improvements regarding human rights data about Pakistan.

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Source: Frontier Star (Pakistan)

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