WB reaffirms support for Pakistan’s textile sector

FAISALABAD: The World Bank’s team leader, Philip Grinsted, has reiterated the bank’s commitment to working with Pakistan in the textile value chain and facilitating access to global markets.

He made these remarks during a high-level visit to the Pakistan Textile Exporters Association (PTEA) alongside a World Bank delegation, aimed at enhancing Pakistan’s textile and cotton value chains. Grinsted highlighted that Pakistan’s textile exports are a driving force of the country’s economic growth, contributing 8.5% to the Gross Domestic Product (GDP) and being the largest employment sector. He said: “Promoting foreign trade could significantly boost Pakistan’s economic growth rate. Reforms in the textile value chain could unlock industrial and economic stability.” During the meeting, key stakeholders from the textile industry and World Bank officials discussed strategies to improve efficiency, sustainability, and innovation in the sector to explore investment opportunities, and capacity building for global competitiveness.

The World Bank delegation proposed potential support programs to increase productivity within the textile sector. They stressed the need to engage the private sector to increase the tax-to-GDP ratio. Earlier, PTEA Vice Chairman Amir Ahmed noted that with positive policies and support mechanisms, Pakistan has the potential to boost its competitiveness. He outlined the challenges faced by textile exporters, including high energy costs, limited access to finance, and compliance with international standards.

GCUF LAW STUDENTS VISIT PARLIAMENT HOUSE, SUPREME COURT: A 45-member delegation from the Department of Law, Government College University Faisalabad (GCUF), led by Chairman Dr Ghulam Murtaza, visited Parliament House, Supreme Court, and the Federal Shariat Court in Islamabad.

The delegation included Dr Muhammad Amir Manj, Dr Fauzia Naseem, Dr Muhammad Imran, Babar Shaheen, and students. Students were briefed at the Senate Museum about the history and evolution of Pakistan’s parliamentary system. They also watched a documentary on the formation of the Senate, key historical decisions, and parliamentary traditions.