Textile Sector Said Contributing 65 Percent To Pakistan’s Forex Earnings
President Faisalabad Chamber of Commerce and Industry (FCCI), Engineer Muhammad Saeed Sheikh while addressing a 24-member delegation of Pakistan Provincial Services Academy Peshawar at FCCI on Friday underlined the importance of textile sector in over all national economy and said that this sector is contributing 65 percent towards the earning of foreign exchange.
Similarly, this sector is also providing jobs to 35 to 40 percent of our productive youth, he added. He informed about the excellent performance of FESCO and told that its line losses are low now while its recoveries are 100 percent only due to the responsible attitude of local industrialist and consumers.
Saeed Sheikh said that development is directly linked with industrialisation while energy is pre-requisite to keep running the wheel of industry but in 2007 the government failed to ensure uninterrupted power supply which forced many industrial units to close down or operate with minimum installed capacity of 30 to 40 percent.
President FCCI also mentioned unjustified distribution of gas among different federating units of Pakistan and said that the industrialists of Punjab are getting RLNG at the rate of Rs 950 per MMBTU whereas the other three provinces are getting at only Rs 400 per MMBTU