PTI leader Ejaz Chaudhary said due to flawed and failed textile policy of Sharif Brothers the whole textile industry is forced to shutdown as the cost of doing business in the textile sector has become unviable. This wrap up of textile industry would not only severely impacts the country???s already struggling economy but also millions of poor workers who would be losing their jobs as a result of this wrap up he added. He said it is ironic that Sharif Brothers??? promises for economic turn around vanish in thin air. We are witnessing worst economic performance in every sector be it industry or agriculture every thing is on its downward spiral he added. He said Ishaq Dar country???s Finance Minister once a money launder is extending felicitations to the poor nation and showing rosy picture of inflated foreign reserves. But due to his ill planning Pakistan is heading towards economic meltdown; we cannot survive on IMF loans when the industries would be closed down and he should then forget that he will achieve ambitious 5.5 growth rate he added.
PTI leader Yasmin Rashid said it is shameful for a country, which is the 4thlargest producer of cotton in the world that its textile industry is going to close. She said the reason Pakistan???s textile industry is on the brink of disaster is that successive governments just paid lip service to facilitate textile sector. Look at Bangladesh, which by importing yarn and fabrics from Pakistan and other countries, has increased the export volume of Textiles made ups and has become a heaven for textile industry she added. She said the geographical location of Pakistan warrants unique proposition to make investments here but unfortunately our ruling elite lacks any planning to attract investors in Pakistan. The textile mill owners are leaving the country and country is witnessing historic capital flight in textile sector as present textile policy has noting to offer them she added.
PTI Information Secretary Andleeb Abbas textile sector is the backbone of Pakistan???s economy having 55 percent of total exports and 40 percent job creation in the country???s manufacturing sector. The textile sector holds great importance as it significantly contributes Pakistan???s exports and foreign exchange earnings but Sharif Brothers are bent upon destroying struggling textile industry she added. She said who would feed millions of workers who are going to lose their jobs as the result of industry wrap up. How unfortunate it is that Pakistan is no longer in the race for a bigger share in the global textile business despite getting GSP Plus status she added. She said even Pakistan???s domestic market has been stolen by China and India due to high production cost in Pakistan. Exports of textile and clothing witnessing negative growth since Sharif Brothers assumed charge she added.
Media Cell
PTI Punjab