CONTRIBUTIONS OF TEXTILE INDUSTRY:
Since independence Textile Company has grown despite of its ill effected policy and neglected concerns it become the backbone of the economy of Pakistan. Textile industry has contributed in economy as well as society of the country. Some of the contributions are:
ECONOMIC CONTRIBUTIONS:
Any development in the country doesnot affect particular sector only but it does change the pathways of other sectors as well.
Increase in national income: Development in industrial sector greatly affect the GDP of the country and industrial sector up brings employment, investments and production higher the contribution more boosts up in GDP.
Economic stability: Textile industrial growth immensely contributes in economic …show more content…
It is the need of the hour to develop a coherent plan by the government that allows some sort of exemption/concession to the textile sector. For example as in India; the Export-Import Bank was set up for the purpose of financing and facilitating the industries, especially textile. The government may give subsidies to share the burden of the industry.
Reducing the cost of doing Business in Pakistan: At present cost of doing business in Pakistan is higher as compared to the regional countries, which has resulted in bitter competitiveness to Pakistani Products in Foreign Markets. China and India are the bigger competitors of Pakistan. We fear if cost of doing business in Pakistan is not brought at par with other Asian countries, our products would find no place in Market both in terms of quality and price. In the context of future trade, there is an urgent need to bring all the utility charges and levy of taxes down to the minimum …show more content…
Government should take serious step to survive the textile industry. In order to decrease the price raw material for textile we need to increase our production capability.
TEXTILE POLICY OF PAKISTAN:
The Textiles Policy 2014-19 is based on actionable plans to make textiles sector more competitive, robust, goal oriented and sustainable. The Ministry will make concerted efforts for ensuring that the Policy creates conducive environment for small and medium enterprises to increase production of value added items through development of clusters. The Policy envisages vital measure to support textile sector
i.e. enabling policy environment, sectoral strategic plan, marketing initiatives, revitalizing projects and capacity building of the Ministry and stakeholders, with a view to improve productivity and enhancing competitiveness of the entire textile value chain.
Ministry of Textile will strive its best for achieving goals and targets of the Policy which are so crucial for development of the country and uplift of the economy
As the world consciousness about sustainability of the planet is increasing,
Since independence Textile Company has grown despite of its ill effected policy and neglected concerns it become the backbone of the economy of Pakistan. Textile industry has contributed in economy as well as society of the country. Some of the contributions are:
ECONOMIC CONTRIBUTIONS:
Any development in the country doesnot affect particular sector only but it does change the pathways of other sectors as well.
Increase in national income: Development in industrial sector greatly affect the GDP of the country and industrial sector up brings employment, investments and production higher the contribution more boosts up in GDP.
Economic stability: Textile industrial growth immensely contributes in economic …show more content…
It is the need of the hour to develop a coherent plan by the government that allows some sort of exemption/concession to the textile sector. For example as in India; the Export-Import Bank was set up for the purpose of financing and facilitating the industries, especially textile. The government may give subsidies to share the burden of the industry.
Reducing the cost of doing Business in Pakistan: At present cost of doing business in Pakistan is higher as compared to the regional countries, which has resulted in bitter competitiveness to Pakistani Products in Foreign Markets. China and India are the bigger competitors of Pakistan. We fear if cost of doing business in Pakistan is not brought at par with other Asian countries, our products would find no place in Market both in terms of quality and price. In the context of future trade, there is an urgent need to bring all the utility charges and levy of taxes down to the minimum …show more content…
Government should take serious step to survive the textile industry. In order to decrease the price raw material for textile we need to increase our production capability.
TEXTILE POLICY OF PAKISTAN:
The Textiles Policy 2014-19 is based on actionable plans to make textiles sector more competitive, robust, goal oriented and sustainable. The Ministry will make concerted efforts for ensuring that the Policy creates conducive environment for small and medium enterprises to increase production of value added items through development of clusters. The Policy envisages vital measure to support textile sector
i.e. enabling policy environment, sectoral strategic plan, marketing initiatives, revitalizing projects and capacity building of the Ministry and stakeholders, with a view to improve productivity and enhancing competitiveness of the entire textile value chain.
Ministry of Textile will strive its best for achieving goals and targets of the Policy which are so crucial for development of the country and uplift of the economy
As the world consciousness about sustainability of the planet is increasing,