The Sub-committee of Senate Standing Committee on Textile Industry here on Monday directed the Ministry of Textile Industry (MinTex) for submitting a detailed report on the issues and challenges being faced by the local textile industry. The committee met here with Senator Mohsin Khan Leghari in chair also convened the ministry of industries and the provincial departments concerned with textile industry to submit report in this regard in next meeting.
Speaking in the meeting Senator Osman Saifullah Khan said “We should be educated on the issues of textile industry, in such way the legislation should be done to resolve the issues of sector.
Briefing the meeting, Joint Secretary MinTex said that the textile sector was playing pivotal role in the economic development and absorbing the skilled and un-skilled labour force in the country.
He said that the textile export comprising 57 per cent of the total exports from the country where as it was providing employment opportunities for 39 per cent labour force in the country.
Out of the total financing made by the local banks for manufacturing sector, the share of the textile sector was 41 per cent, adding that the exports of cotton has witnessed a rise of 37.27 per cent during July-May 2011-12 over the same period of the last year. He said that Pakistan was the 15th largest cotton producer in the world while it was contributing only 2 percent in global cotton export which was at the lower level due to inadequate funding for textile sector.
A total of Rs.24.75 billion were allocated against the approved financing plan of Rs. 123 billion for 2009-12 which is around 20 per cent only, the committee was told.
The committee was told that there was not research and development activities in the textile sector which was a major impediments it the progress of the textile sector. The officials of the MinTex suggested for introducing the crop insurance policy to boost the agri-sector as well as increasing the crop out put in the country. The meeting was attended by Senator Osman Saifullah Khan and Senator Amar Jeet.
Malaysian Chamber sees investment potential in textile sector
Malay Chamber of Commerce Malaysia (DPMM) has urged Malaysian entrepreneurs and businessmen to explore what it sees as “vast investment opportunities” in the surgical instruments, textile and leather sectors in Pakistan. “The chamber foresees a huge investment potential in Pakistan for Malaysian entrepreneurs to be explored in some sectors such as textiles, surgical instruments and halal leather goods,” said DPMM Deputy President Datuk Mohamad Alayuddin Hasan in an interview with mass-circulated Malaysian newspaper Berita Harian after his return from Karachi where he attended the Expo Pakistan 2012 as part of a 57-member Malaysian delegation of businessmen and entrepreneurs. Datuk Mohamad Alayuddin said Pakistani textile products seemed like a very relevant item to be brought into the Malaysian market as they were of high quality and offered at a much lower price as compared to other textile-producing countries. “It’s not just limited to one type of textile, but it also includes all other products including those for home use, hotel use and can also be bought in bulk,” he said. He suggested that Malaysian entrepreneurs take this opportunity to become agents for the sale of surgical instruments manufactured in Pakistan. “The manufactured equipment are of first-class quality and are comparable to German products,” he said, adding Pakistani companies had also agreed to establish a consortium which would soon appoint representatives in Malaysia to supply surgical instruments manufactured in Pakistan to the rest of Southeast Asia.