Optimistic About Long-Term Outcome of Prime Minister Nawaz Shariff's Recent Visit to US

Optimistic about the long-term outcome of Prime Minister Nawaz Shariff’s recent visit to the US, former regional chairman of All Pakistan Textile Processing Association (APTMA), M Arif Lakhani believes this would ensure open roads for enhanced export of Pakistani textile products to the US.

Mr. Lakhani suggested that to boost its export earnings, Pakistan should encourage export of value-added textile goods, while discouraging export of raw materials, and also extend a special incentive package for the ailing industry.

Accounting for almost 60-70 percentof overall exports of the country, the textile industry is one of the crucial sectors for Pakistani economy, and it is imperative that the industry operates at its fullest strength, to ensure higher employment generation, he said.

Presently, Pakistani textile industry only contributes around 3-4.6 percent of the total textile goods imported by the US, which needs to be boosted.

Calling on local producers to make efforts to tap new markets in order to increase exports, the APTMA official urged the government to reduce the cost of production and of doing business as well as make e efforts to better the law and order situation at home to draw more foreign investors.

Addressing a media briefing Site Association of Industry (SAI) chairman Younus M Bashir stressed on need for initiating a follow-up programme to cash in on from the PM’s visit to the US.

Noting that Pakistan has always lagged behind in follow-up, US support can greatly help Pakistan in earning a sustainable solution to energy and economic crisis issues in Pakistan, he added.

During his visit to the US, the Pakistani Prime Minister sought US help to solve the energy and economic crisis issues in Pakistan, and also demanded access for Pakistani textile goods in the US markets, as this can prove to be greatly beneficial for Pakistani economy.

The meeting resulted in inking of a joint-declaration, where the US pledged to extend a helping hand to Pakistan in various spheres.