Pakistan shows firm support to textile industry despite financial challenges
Pakistani Prime Minister Shahbaz Sharif on Friday said that his government will make all-out efforts to support the country's textile industry despite pressing financial challenges.
Addressing a ceremony after inaugurating the textile expo in the country's southern port city of Karachi, Sharif said that the salvation of his country lies in textile sector exports acting as the backbone of the economy.
Sharif said the textile sector constitutes 60 percent of the country's total exports, while 40 percent of the labor force is associated with the sector.
He said that his government will provide a conducive environment to the sector to enhance foreign exchange reserves which will decrease the country's dependence on international lenders.
He also stressed the need for exporters to come up with innovative and unique ideas to boost exports which would ultimately help the country earn valuable foreign exchanges.
Around 400 foreign delegates from over 60 countries and regions are also visiting the city to attend the expo and find cooperation with local entrepreneurs in the textile sector.