KARACHI: China’s textile and garment industry producing more than 40 percent of global textile and apparel exports is relocating to Bangladesh and Vietnam while it has ignored Pakista
n which should not have been the case, said Chairman of FPCCI Regional Committee on Industries Atif Ikram Sheikh. Chinese textile industry is relocating to Bangladesh and Vietna
m that are away, lacks cotton production and are without solid textile base like Pa
kistan, he sadi adding increased cost of doing business and environmental issues have made survival for Chinese textile industry difficult but the
investors have ignored Pa
kistan despite being a neighbour which has raised many questions. Atif Ikram Sheikh said that Government should improve business environment and inform Chinese
investors about liberal policies, repatriation of profits and other facilities. Relocation of Chinese industry to Pa
kistan will generate jobs and revenue therefore government must inform Chinese
investor about the incentives and the recently announced textile package which has made this sector more attractive for the local and foreign
investors, he said. The business leader said that cost of doing business is lower than China which is a great advantage for the Chinese
investors, he said, adding that recently announced export growth package is a golden opportunity for foreign
investor to enter in join venture agreements with local companies. Government is promoting deregulation and
investing heavily in the infrastructure while the duty-free import of machinery is a great incentive, he remarked.
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