Pakistan Economy Watch (PEW) on Sunday asked the government to take note of the unholy designs of India which is now damaging our industrial base to bankrupt country.
India is bent upon destroying our textile sector which the backbone of economy which must be noticed, it said. Dr Murtaza Mughal, President PEW, said that India is working on a strategy to damage Pakistan beyond repair after damaging Kalabagh dam project and initiating water terrorism. He said that India has been targeting economic corridor and now it has started industrial terrorism to damage Pakistan's textile sector which shouldn't be allowed. Dr Murtaza Mughal said that Indian prime minister has directed zero mark-up for the textile sector and providing hidden subsidies to the textile mills which has reduced their cost of doing business.
On the other hand, Pakistan's textile industry is going down by the passage of every day due to increased cost of doing business which has resulted in a retreat in the international market.
The situation of investment and remittances is not satisfactory and exports is only option left to bridge budget deficit otherwise country will have to rely on foreign loans, he said.
He demanded immediate refund to all export industries, steps to reduce cost of doing business, allocation of energy on economical rates and extra attention to the value-added sector.
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