August 08, 2007	Wednesday	Rajab 23, 1428

ISLAMABAD, Aug 7: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday urged the government to immediately announce the short-term measures of the draft textile policy to salvage the industry from its current crisis.

FPCCI President Tanvir Ahmad Sheikh while welcoming the approval of the textile policy draft said that it would comprise short, medium and long-term measures to increase production of cotton, improve value-addition, productivity and competitiveness of the textile sector.

A statement issued by the FPCCI said that the remarks of the prime minister in the meeting - that the government would take all possible steps required to help the industry boost its global trade — were very much re-assuring but it would be a great help if at least the short-term measures in the draft should be implemented without further loss of time.

He said that the textile sector anxiously awaited the announcement of budget and the trade policy but on both occasions they were shocked to find no concrete measures to help out the industry. On the contrary, he said the monetary policy announced by the State Bank had dashed hopes of any help from the government.

Mr Sheikh said that, besides announcing the short- term measures stakeholders of the textile sector should be consulted for giving the policy a final shape.

He assured the prime minister that the textile sector, which was contributing 66 per cent to the country's exports, 40 per cent to employment and 8.5 per cent of GDP, would immensely contribute to the national economy if its problems were resolved immediately.