Tuesday, January 19, 2021

Can Pakistan’s ‘Cheap Labour’ Attract Foreign Industrialists Amid Security Threats?

Cheap labour in Pakistan can help the country to attract foreign manufacturers to move their units here, which will ensure more profit margins for their products. Chairman of Taskforce on Textile, Salman Shah expressed his opinions, while addressing a seminar on Pakistan’s textile sector held on the sidelines of TEXPO-2019. 

In the seminar, people belonged to textile industry shared their views and gave their input and solid recommendations for promotion of textile and its allied and value-addition industry.

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They also stressed the need for expansion of mutual trade with regard to export and import of textile products. Salman Shah said that textile sector had great importance for Pakistan as it contributed around 57 per cent in exports, while 51 per cent of its economy related to textile industry, and the cotton, as major and basic input raw material, played 50 per cent role in the country’s textile industry.

Salman Shah said that wages of labourer were very high in China when compared to wages in Pakistan, and Pakistan should take optimum benefit from this very factor in the CPEP (China-Pakistan Economic Corridor) projects, and this plus point could attract the foreign industrialists to shift their production units from China to Pakistan.

Textile Task force’s Chairman said that various reports/surveys were being assessed and reviewed in order to improve the country’s overall exports volume.

He said that Pakistan was faced with numerous economic challenges including promotion of trade and exports, for which all the stakeholder would have to play their due role to do away with these challenges.

Dr. Salman Shah was of the view that TEXPO-2019 would play a pivotal role in presenting the real and soft image Pakistan to the world nations.

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He said that four-day TEXPO was one of the mega exhibitions of Pakistan’s textile sector at government level, asserting that Pakistan’s commercial attaches abroad, Ministry of Commerce, TDAP (Trade Development Authority Pakistan), Punjab government and all other relevant departments, textile industry leaders and trade bodies deserved appreciation for holding such a mega event in a well-coordinated and successful manner.

On the third day of mega exhibition of Pakistan’s textile sector, TEXPO-2019, business observers from 53 countries and 230 textile sector’s exhibitors and major textile products brands including readymade garments, bed-sheets, leather garments, fashion garments and other related products from across Pakistan ensured their active participation in the event.

More News at EurAsian Times

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