Business leaders have welcomed the appointment of caretaker minister for commerce, industries, production, and textiles Gohar Ejaz who himself is a prominent industrialist and patron-in-chief of All Pakistan Textile Mills Associations (APTMA).
On assuming the charge of his ministry Ejaz, who is the CEO of Ejaz Group, has said he will not accept any salary, remuneration, or perks. As APTMA leader he has been instrumental in the past in boosting textile exports of the country.
A month earlier before assuming office, he appealed to the government to reinstate the Regionally Competitive Energy Tariff (RECT), pointing out that Pakistan’s market share of the international trade in textiles has declined from 2.2 percent in FY22 to 1.8 percent. He further disclosed that 50 percent of the existing production capacity is currently inactive or idle, and as a consequence of the non-continuation of RCET, another 25 percent is on the way to shutting down.
Muhammad Suleman Chawla from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) hoped that he will facilitate the representation of trade and industry in the caretaker setup at this crucial juncture in Pakistan’s economic history. However, the textile she reminded the minister that the textile sector has recorded a contraction of 15 percent in the first month of FY24.
Immediate past president of FPCCI Mian Nasser Hyatt Maggo, highlighted the track record of Ejaz which, speaks volumes about his ability to find practical solutions to economic problems. Numerous other business leaders reposed their confidence in the ability of the caretaker minister for commerce, industries, and textile to attract investment and boost exports.
Entrepreneurs pin hope on caretaker setup and textile minister
