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Print Print 2023-06-24

Zardari reaches out to textile tycoons ahead of elections

  • Says Pakistan Peoples Party is ready to sign ‘charter of economy'
Published June 24, 2023

LAHORE: Former President Asif Ali Zardari on Friday said Pakistan Peoples Party is ready to sign ‘charter of economy’.

Addressing the members of All Pakistan Textile Mills Association, Zardari said all political parties should be on one page regarding efforts aimed at taking country’s economy out of the woods.

Without naming Pakistan Tehreek-e-Insaf chairman Imran Khan, Zardari said “I asked former cricketer that we should sit together and sign the charter of economy but unfortunately he was not interested in it”.

Country needs ‘charter of economy’: Zardari

He said he is ready to sit with everyone to bring economic prosperity in the country. He said that he would be ready to do everything to increase exports.

Responding to a question, Zardari said he never hoodwinked anybody and he would not deceive PML (N).

He said Pakistan is a ‘golden basket’. He also said his dream of $100 billion exports would materialize with the help of textile industry. He said he would try his level best to provide energy to the export sector on competitive rates. Zardari said the textile entrepreneurs should lead the ministries of textile and finance to take the country forward.

He said a PPP government would surely ensure completion of the gas pipeline from Iran besides supporting border trade.

“I will bring gas from Iran for the textile industry of Pakistan to reduce its input cost,” he said. He said he had advocated trade, not aid, in his talks with the European Union back in 2013.

He said Bangladesh has got the advantage of GSP plus because of its underdeveloped status. Nintey percent of Indian textile products get the tag of ‘Made in Bangladesh’ and shipped to Europe for sale, he said.

Earlier In his address, Gohar Ejaz said the potential of textile exports of not less than $25 billion on the basis of current capacity.

He said the industry has set a target of $50 billion in the next five years besides possessing a commitment to set up 1,000 garment units with 500,000 stitching machines out of a total investment of $7 billion to give $20 billion per annum rise in exports and generate employment for 700,000 workers. He said these garments plants be established near major Textile producing cities i.e. Lahore, Sheikhupura, Faisalabad, Kasur, Multan, Sialkot, Rawalpindi, Sukkur, Hyderabad, Karachi, and Peshawar.

He said there is a decline in export and deindustrialization in Punjab due to non-availability of Regionally Competitive Energy Tariff (RCET).

He made it clear that the RCET is not a subsidy. Without RCET, he said, exporters in Pakistan cannot compete in the international markets, as Pakistan has the highest energy tariff in the region and high price of energy plus intermittent/curtailed supply is a recipe for deindustrialization.

While speaking about the solution, he urged to maintain 9cents/kWh for electricity and $9/MMBtu for gas for export sector across Pakistan.

He has sought dedicated power plants for the industrial sector and wheeling of electricity under the CTBCM regime, which requires full support of the Finance Division.

He also sought restoration of SRO 1125, refund of all sales tax, Tuff and other dues, working capital lending facility besides a moratorium on debt, clearance of all imports of Export Oriented Sectors/Zero-Rated Industries whether, permission to open L/Cs for raw material machinery, spare parts and other items, extension of existing export discounting mechanism by SBP to include yarn and cloth and equitable treatment for all textile products in terms of export discounts.

Asif Inam, Aamir Fayyaz, Rehman Naseem, Shahid Abdullah, Omer Nazar Shah, Ahmad Kamal also spoke on the occasion.

Syed Murtaza Mahmud, Federal Minister for Industries and Production and Saleem Mandviwalla, Chairman Senate Standing Committee on Finance and Revenue, were also present on the occasion.

Earlier, Patron-in-Chief APTMA Gohar Ejaz, along with Chairman APTMA Asif Inam, Chairman North Hamid Zaman, Senior Vice Chairman Kamran Arshad and Secretary General Raza Baqir, welcomed the former President of Pakistan.

Copyright Business Recorder, 2023


Comments are closed.

ALI RAZA Meghani Jun 24, 2023 06:37am
Yes Pakistan is Golden Basket but for whom Not sure
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Tulukan Mairandi Jun 24, 2023 07:00am
We should repose our full faith that Zardari will fix the economy, turning us from a sick horse to a galloping one. We should not forget the sacrifices of the Bhutto family. Any sindhi who votes against the Bhuttos are condemned to the fires of hell for being ungrateful.
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Truthisbitter813 Jun 24, 2023 08:58am
"Not a subsidy" because you said so? What a farce! Just like everything else about APTMA.
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Aslam khan Jun 24, 2023 09:01am
I would rather stay under Asim than zardari. Pakistan cannot afford another Zardari rule
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Az_Iz Jun 24, 2023 09:31am
RCET is a reasonable demand. It should be extended to all exporters. Not just textile.
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KhanRA Jun 24, 2023 09:33am
I can’t believe I am saying this, but PPP would be better than what we have now. So would a donkey as prime minister. But PML have shown they are completely incapable of running Pakistan. They put the Sharif family first, even to the point that they defend an incompetent accountant running the country’s economy instead of an economist.
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test Jun 24, 2023 10:12am
@Az_Iz, Of course.
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Martian Jun 24, 2023 10:26am
The actual headline is “ Zardari reaches into Textile Tycoons pckets “
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Farhan Jun 24, 2023 10:29am
I wonder how businessmen are looting Pakistan as well. They have a simple recipe, if inputs and taxes zero or equal than they can easily export. Even with TRUF, GST Exemption, Preferential Rates of Energy, Zero rating on machinery exports are decreasing and their prices empires are expending. Like they are controlling Property, Media, Cement, Power, Mining, Auto etc. If this preferential status was given to technology the results might have been different. We are already late but we have to get our direction right. If people in power consider that these people will become our oligarchs then sorry they don’t have such capacity, they are and they will remain parasites.
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Muhammad Ali Jun 24, 2023 11:39am
So seemingly our next term has been sold to zardari and Co.
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Mehboob Ali Lalani Jun 24, 2023 11:50am
Pakistan needs political stability, lean and clean governance structures, financial discipline, HR restructuring and re-engineering including weeds cutting and getting rid of curse of borrowing and borrowing for consumption. Charter of economy is a lollipop like charter of democracy and it would not work.
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Johnny Walker Jun 24, 2023 03:12pm
Wrong Mr Zardari. It is time for Charter of Peace with India so that the Boots can be reduced to their normal role and budgets. Only when the Boots are out of the governance equation can this country acknowledge that it is at the bottom of civilised nations and has no clout whatsoever. The nation has to realise that it has become a perpetual beggar and needs to learn skills to get out of begging to survive.
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Love Your Country Jun 24, 2023 06:12pm
@Mehboob Ali Lalani, the charter of democracy went out of the window as soon as AAZ assumed power after BB was removed from the scene. Actions speak for themselves.
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Ulgen Jun 24, 2023 06:54pm
@Tulukan Mairandi, Bhutto was one of the persons responsible for the break up of Pakistan. And he left us with a scoundrel like Zardari and a world class fool like Bilawal.
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Ulgen Jun 24, 2023 06:55pm
Bhutto was one of the persons responsible for the breakup of Pakistan. And he left us with scoundrel lile Zardari and a world class fool like Bilawal.
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Tulukan Mairandi Jun 26, 2023 03:54pm
@Ulgen, it was AAK Niazi, Bhutto was his pawn. Bhutto laid down his honourable life as a martyr because he refused to kowtow to the Junta Zia Ul Haq who caused the islamization and extremism of Pakistan. Benazir too laid down her life as she refused to cede space to Islamists. Learn history, little kid.
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