LAHORE: Advisor to the Prime Minister on Commerce, Textile Industry & Production and Investment Abdul Razak Dawood today said here that PTI govt was committed to evolve a business-friendly policy for the textile sector.
Addressing the first meeting of the task force formed to formulate the third textile policy for the year 2019-2024 here at Shaheen Complex, he said that the government would support and facilitate the textile sector which was the most important sector for the country’s economy.
The advisor said the textile sector was facing a number of challenges, including the cost of electricity, gas and outdated machinery, but now effective decisions would be taken by the government to make the sector most progressive, competitive and viable.
He said now value-added factors should be focused to deal with challenges for the revival of the textile sector, adding that a meaningful textile policy was needed to boost exports. Razak Dawood said that industry should take advantage of the GSP Plus status, adding that the textile sector was the first step for industrialization which should be consolidated by resolving issues of its sector.
He said the textile sector had a vast potential to overcome unemployment and poverty. The advisor directed the task force to formulate the textile policy to target new markets especially Japan, Canada, and the UK. Task Force Chairman Salman Shah briefed the meeting about the importance of the textile sector in total GDP, prospects
and benefits to inputs and their effects on the economy.
Global Value Chain and share of fiberwise, product wise and market wise were discussed in the meeting. Various committees were formed to redress issues whereas it was also decided that the textile policy 2019-24  would be formulated on recommendations of these committees.