Concern over decline in textile exports

LAHORE - LCCI Acting President Shafaqat Saeed Piracha Tuesday expressed grave concern over decline in country's textile exports in 10 months of current fiscal and urged the government to adopt both short-term and long-term methodologies to bring down the high cost of production to make Pakistani merchandise competitive in the global market. In a statement issued on Wednesday, the LCCI Acting President said that the textile exports for having more than 60pc share in the overall exports need very special attention of the govt. Shafqat Saeed Piracha said the decline in exports would put a very negative impact on the economic growth which is already under tremendous pressure and likely to remain below the revised target of 6pc for the 2007/08 fiscal year, mainly because of lower manufacturing growth and farm output. The LCCI Acting President said that the govt should introduce business-friendly policies in upcoming budget that could promote local production and create exportable surplus. The LCCI Acting President also expressed grave concern over fast going up import bill of the country and urged the govt to put check on the import of non-essential items. 

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