LAHORE: Punjab Minister for Industries, Commerce & Investment Shafay Hussain has assured All Pakistan Textile Mills Association (APTMA) of expediting development of industrial parks in Punjab to boost apparel exports.
He was talking to the APTMA delegation led by Chairman North Kamran Arshad and comprised of Senior Vice Chairman Asad Shafi, Executive Muhammad Ali, and Secretary General Mohammad Raza Baqir.
The Minister informed that Chief Minister Punjab has recently set up a high-powered committee headed by Provincial Minister for Industries to examine and understand the best practices across the world in general and Bangladesh in particular for the establishment and operation of Garments cities on the pattern of ‘Plug and Play Model’.
He added that such industrial parks will be equipped with the state of art infrastructure to attract foreign and local investors. He said the committee would make recommendations on all aspects of the setting up of Garments Parks either in the existing industrial estates or on new sites. He expressed the hope that APTMA would provide all technical assistance and know-how to the Punjab government in this regard.
Speaking on the occasion, Chairman APTMA North Kamran Arshad said Patron-in-Chief APTMA Gohar Ejaz had put forward the vision of apparel cities in the province by constructing modern industrial zones dedicated to garment manufacturing.
The aim is to attract local and international investors by leveraging competitive advantages like low-cost labor and favorable trade status and to inject the boost of additional $ 12 billion in textile exports, he added. Arshad said that these industrial parks would offer fully equipped plug & play factories for rent, aiming to significantly increase Pakistan’s apparel exports and economic impact besides generating significant employment opportunities to alleviate poverty.
According to him, the establishment of industrial parks is projected to boost export revenue by $2 billion annually in the first phase by providing a conducive environment for production, enhancing competitiveness in the global market and $12 billion per annum after completion.
American Dollar Exchange Rate