Pak can earn forex upto 80 bln dollars by developing garment sector
Associated Press of Pakistan, Pakistan
FAISALABAD, May 13 (APP): Pakistan can earn foreign exchange upto $ 80 billion by developing its garment sector on modern scientific lines, said Mukhtar Ahmad Sheikh, Chairman, Faisalabad Garment City Company (FGCC).Talking to APP here Sunday, he said that being a major cotton producing country, Pakistan had to switch over to garments by completing its value addition chain in textile sector at least 20 years ago.
However, he appreciated the present government and said that it has rightlytaken positive initiative to develop 3 garment cities in Pakistan. He said that second garment city of Pakistan would be developed in Faisalabad with an estimated cost of Rs.600 million.He underlined the unexploited potential of textile and said that with our present production, we could earn 300 times more only by value addition in our textile chain. About Faisalabad Garment City, he said that it would be set up in the close vicinity of Khurarianwala Industrial Belt. “We would lease out 4,00,000 square feet of constructed space to the Small and Medium scaleEntrepreneurs (SMEs). This step would help and encourage SMEs to come andimmediately start their business without spending huge amount on the constructionof buildings and other infrastructure facilities”, he added. He said that FGC would be constructed with Rs.600 million. Out of it, land has already been purchased with Rs.100 million while remaining Rs.500 million would be spent on the construction of 5-storey blocks with all basic utilities and facilities.He said that it would also have a training center to provide trained manpower to the garment sector. Mukhtar Ahmad Sheikh said that Faisalabad Garment City would not only encourage promotion of SMEs but also provide jobs to 9000 workers directly and to one Lac families indirectly. He said that its office has been established in Amin Town and now arrangements are being made to start construction of the FGC within next couple of months.
