Pakistan textile industrialists are willing to invest $5 billion in the sector as China is pulling out of textiles, informed Group Leader All Pakistan Textile Mills Association (APTMA) Gohar Ejaz.

The textile industrialist said that the only industry working in Pakistan at the moment is the textile industry. “The domestic consumption has been curtailed in other sections, however export factories are working at 100 percent capacity,” said Gohar.

The industrialist added that textile industry is competitive in only those countries where average earnings are less than $100-150. “We have got the raw material, technology and labor,” he said, adding, “we are globally viable and there is a demand for our product after 10 years”.

The Group Leader APTMA urged the government to implement a uniform policy for the textile industry. Days ago, APTMA Punjab Senior Vice Chairman Abdul Rahim Nasir urged the government to provide five-year policy for textiles and clothing to attract long term investment.

Nasir said that Pakistan’s textile and clothing export share in global trade had dropped from 2.2 percent to 1.7 percent therefore; fresh investment was an urgent need of the hour. However, he stressed that the textile exports could increase to $50 billion from existing level of $13 billion provided that the government ensures long term policy for the textile industry.