Mian Zahid Hussain, President of Pakistan Businessmen and Intellectuals Forum (PBIF) stated that the issues confronting the textile sector should be resolved so that it can play an effective role in national development.
Speaking at a meeting of FPCCI Standing Committee for Textile, Dying and Processing, through a video link in which business leaders from Karachi, Lahore and other cities participated, he called upon the government to start working immediately so that the next cotton crop could be saved from collapse.
He said that increased taxes, costly energy, the demand for bank guarantees by gas utilities and delayed refunds had increased the cost of doing business.
He said that the importance of textile sector had increased manifold in the current global economic scenario which must be realized and textile exports could fetch extra billions of dollars for the country.
He said that Anjum Nisar, President of FPCCI had been busy in serving the business community and forwarding research-based proposals to the government which would go a long way in resolving the issues of industrialists and traders.
Irfan Saeed, Chairman of the committee, said that the textile processing industry was in tatters which should be bailed out.
