Business leaders ask govt to secure $5b worth textile orders from Bangladesh

Lahore: Prominent business leaders, Patron-in-Chief United Business Group SM Tanveer and Regional Chairman and Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zaki Aijaz urged the government to take immediate action to secure $5 billion worth of textile orders from Bangladesh.

S.M Tanveer and Zaki Aijaz demanded a reduction in electricity tariffs, restoration of SRO 1125 for exports, and a decrease in interest rates to15 percent.

The business leaders made this demand during a press conference held on Monday in Lahore.

They warned that if the government fails to act swiftly, these lucrative orders will be lost to India, Cambodia, or Vietnam. The leaders also expressed concern over the closure of textile industries in Faisalabad and announced that the FPCCI, UBG and business community will present a plan of action to the Faisalabad Chamber of Commerce and Industry on August 23.

The government's delay in resolving Investment Policy (IP) issues may result in Pakistan losing $5 billion worth of orders, they cautioned, emphasizing the need for prompt action to protect the country's industrial assets.