KARACHI: Abdul Rauf Siddiqui, the Minister of Industries & Commerce, Government of Sindh inaugurated the 8th Edition of the International Machinery Exhibition of Garment & Textile Technology – MEGATECH Pakistan 2010, at the Expo Centre on Thursday.
Speaking on the occasion, Rauf Siddiqui highlighted the importance of the textile industry, which is regarded as the backbone of the Pakistan’s economy. He shed light on the efforts taken by the ministry to prop up the textile and garment manufacturers.
He made a point that the concrete steps taken by the ministry would increase the country’s textile related exports in the years to come. The minister reiterated that his ministry has put two proposals to the President and Prime Minister for exemption of some taxes for ten years to those who establish industries in Interior Sindh.
Furthermore, the government has offered the investors for submitting 10 percent of the cost of land, while remaining 90 percent could be submitted in installments or after getting profit of such industry.
The Guest of Honour, Idrees Ahmed said induction of modern machinery and technology is essential for Pakistani manufacturers to maintain a competitive edge in the current economic situations. He stressed that large investment is required in this sector and the government should seriously consider controlling the constant rise in yarn prices.
Abdul Majid Haji Muhammad, president Karachi Chamber of Commerce and industry emphasised on various initiatives taken by KCCI to accelerate textile and garment manufacturing activities in the country.
MEGATECH Pakistan 2010 has the participation of more than 300 companies from 29 countries. The 3rd Technical Textiles Conference is also being held in concurrence with the exhibition on 5th & 6th March, 2010. The conference will highlight the prospects related to Medical & Geotextiles.
No comments:
Post a Comment