The reduced cotton output estimated to be under 10 million bales this year is to threaten livelihoods of millions of farmers and Pakistan's largest textile industry, Mian Shahid, Chairman of the United International Group said here on Sunday.
He said that 40 percent crop had been damaged in Punjab only therefore the government should immediately probe the failure through an independent commission and fix the responsibility. At the same time, textile industry that has laid off two hundred thousand workers during last two years in Punjab due to unfavourable conditions must be saved from adverse effects, he urged.
He said that Rs 14 trillion textile industry responsible for 57 percent of total national exports cannot be left alone as this sector was already reeling under energy crisis, taxation and 'controversial' economic policies. "The textile millers are awaiting refunds to the tune of one trillion and ten billion rupees since long which should be paid immediately," he added.
Government must provide enabling environment to the whole textile chain and push value addition so that it continue to provide jobs to million and earn foreign exchange, he demanded.
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