United Business Group (UBG) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) urged the government to take immediate measures to secure US $ 05 billion worth of textile orders from Bangladesh.
The UBG Patron-in-Chief SM Tanveer and the FPCCI Regional Chairman and Vice President of Zaki Aijaz demanded a reduction in electricity tariffs, restoration of SRO 1125 for exports, and a decrease in interest rates to 15 percent.
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They were of the view that if swift measures are not taken, these lucrative orders will be lost to India, Cambodia, or Vietnam.
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The business leaders also expressed concern over the closure of textile industries in Faisalabad and announced that the FPCCI, UBG and business community will present a plan of action to the Faisalabad Chamber of Commerce and Industry.
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Delay in resolving Investment Policy (IP) issues may result in Pakistan losing US $ 05 billion worth of orders, they feared and emphasized the need for prompt action to protect the country’s industrial assets.
