ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani Wednesday said the Textile Policy aims at incorporating the strategies that are essential to address the challenges confronting this sector on a sustainable basis besides meeting the expectations of the industry.
Addressing the Special Cabinet meeting convened to consider the Textile Policy 2009-14 at the PM Secretariat, the Prime Minister said for the first time in the history of the country, the government was adopting a five-year Textile Policy, which would give the vision that was needed for the textile sector.
Gilani said the textile industry has had its highs and lows, with robust beginning that lost the momentum halfway. He said Pakistan is no more known for its premium quality cotton and cotton products as value conscious competitors have edged us out in the international market.
The Prime Minister said Pakistan is the fourth largest producer of cotton but is ranked 12th in global textile exports, and stressed the need for its improvement for the benefit of people. He mentioned that at present the textile industry is beset with energy shortages, security concerns and high cost of capital.
Textile exports last year, he added, registered a negative growth of 9.5 percent, which is a matter of serious concern. He said textile sector is plagued by inherent problems which are historical and complex. The Prime Minister said we also need to look at external factors which affect our industry seriously.
He said a quota-free trade regime has brought more challenges than opportunities while exposing the ill-preparedness of our textile industry in a competitive global grade environment. The recent global financial meltdown and sharp falls in trade volumes have thrown up new challenges. Last year Pakistan’s total exports were down by 6.7 percent and textile exports 9.5 percent mainly because of global demand shrinkage, he added.
The Prime Minister said keeping both domestic and global contexts in mind, it was necessary than ever before to come up with a comprehensive response strategy. He hoped that the textile policy 2009-14 is equipped with appropriate policy instruments. He said the ultimate goal of the textile policy is the creation of an enabling environment for the industry to grow.
Textile sector, he added has been the major provider and foreign exchange earner and must continue to be so. He said focus on this sector should give a clear message that this government puts poverty alleviation, job generation and industrial development very high on its agenda and is taking all possible steps in this direction.
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