Lahore: Patron-in-Chief of UBG and former Punjab Minister S M Tanveer has urged the government to urgently partner with FPCCI to attract billions in investment, as reported on August 16.
As per details, the former Punjab Minister pointed to the current political turmoil in Bangladesh, which has led to a withdrawal of Western investments, creating a crucial opportunity for Pakistan to attract these funds. He also noted the significant cancellation of textile export orders from Western brands in Bangladesh, which could be redirected to countries like India, Vietnam, or Cambodia unless immediate action is taken. S M Tanveer stressed that Pakistan has a narrow two-week window to act.
He proposed several measures for the government, including reducing energy prices to 9 cents per unit, facilitating the domestic supply chain for exports under SRO 1125, and lowering interest rates to 12 percent. These steps, he argued, are essential to revitalising the local textile industry. By implementing these recommendations, Tanveer believes Pakistan could secure substantial investment and textile export orders, potentially generating millions of jobs and significantly boosting the national economy.
