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Pakistan PM gives package for textile sector, expects enhanced productivity

Expressing hope the industrial sector brings reforms to compete with regional competitors the Prime Minister of Pakistan Shahid Khaqan Abbasi has agreed to provide a relief package for pushing up textile exports. The PM has the government had largely fulfilled its responsibility on provision of gas and electricity.

Abbasi stated the multi-billion dollar China-Pakistan Economic Corridor project was the future of Pakistan and it would be completed at every cost. He maintained China was playing its role in the development of Gwadar and new airport and power plant were being established at a rapid pace. As many as 2,000 acres of land were handed over to China for setting up industries. To a query regarding the growing debts, the premier disclosed that loans were taken to boost production capacity.

He declared the rise in current account deficit was not worrisome as an increment in the import of heavy machinery was the root cause for that. If a loan is taken to supplement the volume of the economy, it is helpful for the country’s progress, added Khaqan Abbasi.