Textile Sector Lynchpin Of Pakistan's Economy: President
Umer Jamshaid 28 days ago Thu 25th April 2019 | 10:15 PM
President Dr Arif Alvi on Thursday said that textile sector was the lynchpin of the Pakistan's economy, contributing 60% in the country's total exports and 40% in industrial employment
Talking to a delegation of All Pakistan Textile Processing Mills Association (APTPMA), which called on him here, he appreciated the role being played by private sector, particularly the APTPMA in economic development of the country.
President Alvi highlighted that the tough economic conditions of the country called for difficult decisions, but government was committed to improve the economy.
The president pointed out that the government was formulating Strategic Trade Policy Framework (STPF) for the next five years with focus on reducing cost of production and encouraging investment into export-oriented sectors.
He highlighted that Pakistan was currently engaged with China for the second phase of Free Trade Agreement (FTA), whereas investment and transfer of technology was part of the broader collaboration under China Pakistan Economic Corridor (CPEC).
The president emphasized that business community needed to play their active role in encouraging businessmen to pay all their taxes so that budget deficit could be reduced and more funds could be allocated for development work.
He expressed his confidence that the combined wisdom of public and private sectors would pave the way for a prosperous Pakistan.