China, Turkey, Korea keen to invest in Pakistan
August 1st, 2011 - 10:15 am ICT by IANS
Islamabad, Aug 1 (IANS) Chinese, Turkish and Korean businesses have shown keen interest in investing in Pakistan’s “textile city” of Karachi, Prime Minister Yousuf Raza Gilani has said.
Gilani said the textile sector plays a significant role in Pakistan’s economy. It constitutes 60 percent of the country’s total exports and provides jobs to 40 percent of the working population.
The prime minister said Pakistan must take full advantage of the opportunities that are globally available in the textile sector, the Associated Press of Pakistan (APP) reported.
Gilani underlined the need for improving skills of the labour force to enhance their productivity and improve the quality of products.
He said that while the government has responded to the demands of the textile industry by providing relief packages, the industry in turn should assure the implementation of quality standards and good business practices.
Gilani said it was the duty of both the government and the entrepreneurs to be part of Pakistan’s march towards becoming the hub of quality textile products.
He, however, lamented that while countries like China, India and Bangladesh have significantly increased their textile market share, Pakistan was yet to capitalise on such opportunities.
Though Pakistan was blessed with natural resources like cotton crop, unique geo-political location and a rich history of quality textile products, there were many problems facing the industry, like low-skilled labour, power shortage and inadequate infrastructure.
The Pakistan Textile City in the Port Qasim area, once fully operational, will provide employment to over 80,000 people at its full capacity.
It will attract an investment of $250 million and increase exports by over $3 billion per annum, he said.
Other benefits will include additional demand for cotton - yarn and crop - and increased demand for cement, steel and construction material.
This will in turn increase revenue for movement of goods and transport activities and creation of indirect jobs, Gilani said.
- Rs.2,100 crore sanctioned for textiles parks - Oct 27, 2011
- Textile workers demand ban on cotton yarn export - Nov 20, 2010
- Gujarat textile honchos puts forward demands ahead of Budget - Feb 21, 2011
- Textiles sector calls for stable growth policy - Jan 19, 2011
- Bt Cotton has benefited farmers, raised yield: Study - Jun 07, 2012
- India to give major boost to Africa's cotton output - Jun 01, 2012
- India agrees to duty-free Pakistani exports to EU: Report - Sep 10, 2011
- Pakistan to import 1 million cotton bales from India - Aug 30, 2010
- Modi woos Tamil Nadu investors - Nov 13, 2010
- Gilani to talk Afghan peace in Qatar (Lead) - Feb 06, 2012
- Bangladesh wants 'quota' in Indian cotton export - Oct 22, 2010
- High yarn prices may cause lay-offs in hosiery industry - Jun 10, 2010
- Orissa handloom weavers demand ban on cotton exports - Nov 24, 2010
- Chinese cotton buyers visit Rajkot to buy Shankar 6 variety - Dec 17, 2010
- 250 power looms close down in Pakistan, 50,000 lose jobs. - Jun 03, 2010
Tags: construction material, cotton crop, cotton yarn, gilani, inadequate infrastructure, keen interest, korean businesses, labour force, labour power, pakistan islamabad, pakistan textile, political location, port qasim, power shortage, quality textile products, skilled labour, textile city, textile industry, textile market, textile sector