Setting up of textile city proposed
Textile sector has about 60% share in total foreign exchange earnings and 40% of the workforce is employed by it
APP
December 10, 2020
LAHORE:
The textile sector serves as the backbone of Pakistan’s industrial base as it has about 60% share in total foreign exchange earnings and 40% of the workforce is employed by it, said Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President SM Naveed. Speaking to the media on Wednesday, he proposed the establishment of Pakistan Textile City to attract local and foreign investment. He also requested the government to focus on the project as it would not only help stabilise the economy but would also pave the way for the development of other industries related to textile. On the occasion, PCJCCI Senior Vice President Daud Ahmed said Pakistan Textile City would be a public-private joint venture to be governed by the government in order to develop an industrial zone near the seaport dedicat
PCJCCI proposes textile city
December 10, 2020
LAHORE: Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) has suggested establishment of Pakistan Textile City to attract local and foreign investors, a statement said on Wednesday.
The idea was floated by PCJCCI President S M Naveed during the think-tank session held at the chamber premises.
Textiles had always been serving the country as the backbone of industrial base, providing about 60 percent of foreign exchange earnings and employing around 40 percent of the workforce, he added.
Pakistan is the 8th largest exporter of textile products in Asia. This sector contributes 9.5 percent to the
GDP and provides employment to about 15 million people, ie, 30 percent of the 49 million workforce of the country.