LAHORE: Federal Minister for Information and Broadcasting Pervaiz Rashid says the PML-N government has put the economy on the right track through industry-friendly policies while the textile industry has a great potential to create employment at the grassroots level.

He was speaking at the inauguration of 16th Textile Asia 2016 Exhibition at the Expo Centre, being organised by the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) in collaboration with Ecommerce Gateway Pakistan.

The minister claimed export of Pakistani garments had increased in the international market and holding of such exhibitions would be beneficial for the local textile industry. He pointed out Prime Minister Nawaz Sharif had announced reducing power tariff and granting zero-rated sales tax facilities to the five exporting sectors, including the garments industry, for their development.

Inaugurates Textile Asia 2016 Exhibition

Responding to a question, he said Pakistan’s exports increased during last fiscal year, however, currency showed downward trend due to decrease in the value of goods world over.

About increase in Bangladesh exports, Mr Rashid said, the country had been enjoying continuous democracy for the last 20 years and it also had reaped economic benefits given to it by other countries, which Pakistan could not get due to the dictatorship of Pervez Musharraf.

Regarding regional cooperation, the federal minister said all the regional countries should continue to progress on regional issues such as human trafficking while maintaining dialogue process.

PRGMEA chief coordinator Ijaz A Khokhar, addressing the ceremony, said the association took the initiative with the collaboration of ecommerce gateway and brought textile machinery fair to Pakistan to increase productivity of the local industry. He said the event fully reflected the investment potential Pakistan offered for modernisation of the textile sector.

Mr Khokhar added that last year the event had provided an effective platform for joint ventures and collaborations among the local textile industry and international entrepreneurs where 315 exhibitors from 27 countries had displayed more than 310 brands.

He said Pakistan is the fourth largest cotton producing country in the world but it had failed in converting this local produce in to value-added products.

Ecommerce Gateway President Dr Khursheed Nizam said this year’s exhibition was expected to be visited by 50,000 people from trade and the corporate sectors as well as more than 550 foreign delegates.

Published in Dawn, August 28th, 2016