Chairman Inventor Association of Pakistan, Saquib Fayyaz Magoon has urged the government to announce incentive package to bring textile sector out of crisis. He said that the textile exports Pakistan's major foreign exchange earners are constantly on the declining path.
He said that the government should immediately look towards the core issues of textile industry and should try to solve these important issues, mainly includes issues of high cost of manufacturing and high unitary changes. He said that the government must take these issues on priority basis; otherwise the textile industry will reach the point of no return resulting massive unemployment in the country.
He said Pakistan got Generalised System of Preference (GSP) plus status but failed to take its benefits in real terms. He said that cost of doing business in Pakistan is going up day by day and due to this reason Pakistani exporters are not getting a level playing field and fail to get desired benefit of GSP plus status.
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