Lahore: In an urgent call to action, S M Tanveer, Patron-in-Chief of UBG and former Punjab Minister, has advocated for a strategic partnership between the government and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to secure foreign investment opportunities and enhance the textile industry.

According to Zameen.Com, Tanveer emphasized the immediate need for Pakistan to capitalize on the current political instability in Bangladesh, which has led to a significant withdrawal of Western investments and cancellations of textile export orders. He highlighted that without swift action, these investments and opportunities might shift to other Asian nations like India, Vietnam, or Cambodia.

Tanveer proposed several critical steps for the government to undertake, including cutting energy costs to 9 cents per unit, improving the domestic supply chain for exports, and reducing interest rates to 12 percent. These measures, he stated, are vital for reviving Pakistan’s textile sector, which could attract substantial foreign investments and orders, thereby creating millions of jobs and boosting the national economy.