A meeting was held between the Faisalabad Chamber of Commerce and Industry (FCCI) President Suhail Bin Rasheed and textile entrepreneurs on Tuesday. The prime agenda of the meet was focused on the revival of closed units in the textile sector.
Former textile minister Mushtaq Ali Cheema also spoke while Azhar Majid, Mian Muhammad Latif, Farhan Latif and FCCI’s former president Muzammal Sultan were present.
Textile entrepreneurs have urged the government to do its utmost for the revival of closed units as yarn consumption at international level is declining and local value-added textile sector can exploit the situation. They said revival of such units would also provide jobs to the jobless if the government provided them with required working capital to take benefit of the GSP Plus status from the EU.
The FCCI president said in the meet that the export of value-added textile products had increased significantly in May but still the industrial units were not fully utilizing their capacity. Steps should be taken for the revival of sick units by giving them working capital so that they could increase the textile exports. He even agreed with the entrepreneurs that revival of such units would open jobs for unemployed youth as well.
The Ministry of Textile had issued a notification for the revival of the closed industrial units in which two major banks had been taken on board in the presence of the governor of the State Bank of Pakistan, Mr Rasheed.
As the textile secretary was out of country, the case would be shadowed again on her return.
Oysho, the sportswear and leisurewear brand, has collaborated with Fulgar to introduce a new eco-friendly activewear collection made with Q-Cycle…
Autoneum has developed E-Fiber flame shields for electric vehicles, which stand out for their high-temperature resistance, lightweight structure and durability.
McLaren has introduced a world-first innovation in supercar engineering, Automated Rapid Tape (ART) carbon fibre redefining performance while reducing waste.
Delius, a renowned textile manufacturer based in Bielefeld, Germany, is setting new benchmarks in sustainable contract fabrics with its EcoSafe…
Bank & Vogue, the parent company of Beyond Retro, is redefining sustainability in the fashion industry through groundbreaking upcycling projects.
Ravel, a recycling startup, has successfully closed its pre-seed funding round, marking a major milestone in its mission to revolutionize…