Proparco eyes Pakistan’s textile sector for sustainable investment

LAHORE: A delegation from Proparco, a subsidiary of the French Development Agency, visited the All Pakistan Textile Mills Association (APTMA) in Lahore on Wednesday to explore financing opportunities in the textile sector to promote sustainable economic, social, and environmental development in the industry.

Led by Regional Director Diane Jegam, the Proparco team included Conselance Kelma, Project Manager Proparco, Laurent Chopiton, Economic Head, French Embassy and Habib Anwar, Honorary Counsel, French Embassy.

Chairman APTMA North Kamran Arshad, along with Senior Vice Chairman Asad Shafi, M I Khurram, Haroon Elahi and Secretary General Mohammad Raza Baqir, welcomed the delegation at APTMA Lahore office.

The delegation discussed financing modalities in the textile sector for promoting sustainable economic, social and environmental development in Pakistan. It also discussed potential collaboration with APTMA.

The delegation head said Proparco is interested in supporting climate-friendly initiatives, green energy projects, and environmental and social risk management in the textile sector.

APTMA sought financing for various projects, including the establishment of a Garment City, an International Textile Testing Lab, and training programs for EU Digital Passport and sustainability in supply chains.

APTMA Chairman Kamran Arshad presented the strengths of Pakistan’s textile industry, highlighting its vast export potential.

He said the meeting comes as Pakistan’s textile industry has made significant strides in sustainability, with APTMA members compliant with international standards like SA 8000 and Oeko Tex. The industry has also shifted towards preferred fibres like organic cotton and recycled polyester, and implemented effluent and water treatment plants to reduce its environmental footprint.

With the GSP+ facility allowing duty-free access to EU markets, he added, Pakistan’s textile exports have increased by 73% since 2013. Proparco’s investment could further boost the industry’s growth while promoting sustainable development.

Copyright Business Recorder, 2024