Govt’s decision to help textile sector in adding $3bn exports

RECORDER REPORT

MULTAN: Khawaja Muhammad Usman President of Multan Chamber of Commerce and Industry (MCCI) has hailed the government’s decision to provide uninterrupted power supply and two-day gas supply and said the step would help the textile sector in adding three billion dollars exports this fiscal year and create three million new jobs.

“This is a golden day for the textile industry of Pakistan,” Khawaja Usman said, while talking to media persons on Friday.

“For the first time in the last five years, the Punjab industry has been assured of uninterrupted power supply during winter,” added the textile industry in Punjab was sitting on huge idle capacities because of gas and power shortages. Benefits from the GSP Plus status, said Usman, were only possible if the industry ran round-the-clock.

“Rule of thumb is that one billion dollars exports generate one million jobs, thus two million jobs would now be added only because of the GSP Plus. Almost one dollar billion exports and one million more jobs would be added as many closed mills would start full operations,” he said.

“The entire textile chain is ecstatic after the Economic Coordination Committee took the decision to provide staggered gas supplies of 48 hours a week, besides assuring that power outages would take place only when gas is available for industries.”

He added the government had also assured that the industries that have no gas-run generators would be supplied power for 24 hours a day. Muhammad Anees Khawaja of Aptma south Punjab chapter said that the textile sector would create most of the new jobs.

“We are expecting huge investment in this sector for the first time in more than a decade,” he said, adding that most of the closed capacities would be functional.

He said the government has sent a positive signal to foreign buyers by taking this decision. “The ruling party has again proved its business-friendly credentials,” he added.

“We are the most competitive and efficient producers of value-added textiles,” he claimed, adding that the hands of the exporters were tied due to chronic power shortages in the country.

“It is heartening that the government has realised that creating jobs and increasing exports is more important for sustained growth and poverty alleviation,” Aptma leader said.

“For the first time, the industry has been given priority after domestic consumers,” he said.

“The government has gone extra length to accommodate the industry. Businessmen now feel immense pressure to deliver beyond the promises they made. If we add value to our textiles, our potential is above $50 billion.”