The All Pakistan Textile Mills Association, better known as APTMA, has urged the Government to initiate a 5-year policy for its apparel and textile industry.
APTMA believes this would attract long-term foreign investment.
While speaking to a delegation of Trade & Development Authority of Pakistan, including 15 probationary officers from 26th Specialized Training Program (STP), Abdul Rahim Nasir, Senior Vice Chairman, APTMA Punjab said that more garment plants are in pipeline.
The industry, reportedly, plans to establish around 1,000 garment units near prominent textile cities like Lahore, Peshawar, Faisalabad, Multan and Rawalpindi, among others.
The Senior Vice Chairman added that the Government should allow Long Term Finance Facility to both direct and indirect exporters to set up infrastructure.
He said that if the Government provides long-term policy for the industry, then the textile exports could rise by several manifolds.
Also, he added, only the availability of regionally competitive energy, i.e., gas @ 6.5$/mmBTU and electricity @ 7.5 US cents/kWh can materialse the dream of fresh investment in Pakistan.