Pakistan Can Be Alternative Textile Sourcing Hub Amid BD Turmoil,Dr. Baig.

Karachi ,August 2024 : Dr. Mirza Ikhtiar Baig MNA PPP and former SVP FPCCI said that due to the recent turmoil in Bangladesh, many textiles sourcing companies representing renowned brands are
in the process of shifting their operations from Bangladesh. This provides a good opportunity for Pakistan to setup in as an alternative sourcing hub. Dr. Baig in a recent meeting with Commerce Minister
Jam Kamal Khan requested to reduce the power tariff to 7 or 8 cents per kw and single-digit markup for export industries to avail this opportunity to cater to Bangladeshi orders. Pakistani textile exports
hardly reached USD 20 billion but then dropped to USD 16 billion due to higher energy and financial costs. Moreover, the withdrawal of zero-rating scheme under SRO1125 is also a blow to the industry.
Bangladesh exports already reached USD 47 billion / annum but are now affected with the massive political and economic turmoil providing unique opportunity for Pakistan. Dr. Baig will take up this
matter at the National Assembly standing committees on Finance & Commerce as a member.