Lahore: Cheap labour force can help Pakistan attract foreign industrialists and encourage them to shift their units here, which will definitely ensure more profit margins for their products, said Task Force on Textile Chairman Salman Shah.
Addressing a seminar on Pakistan’s textile sector held on the sidelines of TEXPO-2019, Shah said that the textile sector had great importance for Pakistan as it contributed around 57% in exports, while 51% of its economy related to textile industry, adding that cotton, as a major and basic input raw material, played 50% role in the country’s textile industry.
In the seminar, people from the textile industry shared their views and gave recommendations for promotion of textile and its allied and value-addition industry. They also stressed the need for expansion of mutual trade with regards to export and import of textile products.
The chairman said that wages of labourers were very high in China when compared to wages in Pakistan and we should take advantage of this in the China-Pakistan Economic Corridor projects. He said that various reports and surveys were being assessed and reviewed in order to improve the country’s overall exports volume.
He said that Pakistan was faced with numerous economic challenges including promotion of trade and exports, for which all the stakeholder would have to play their due role to do away with these challenges.
Shah was of the view that TEXPO-2019 would play a pivotal role in presenting the real and soft image of Pakistan to the world nations. He said that the four-day TEXPO was one of the mega exhibitions of Pakistan’s textile sector at government level.
On the third day of mega exhibition of Pakistan’s textile sector, TEXPO-2019, business observers from 53 countries and 230 textile sector’s exhibitors and major textile products brands including readymade garments, bed-sheets, leather garments, fashion garments and other related products from across Pakistan ensured their active participation in the event.