Prime Minister Shehbaz Sharif said Friday while addressing a ceremony at Textile Expo that the textile sector was the backbone of Pakistan’s economy, adding that he was going to hold pre-budget meetings from the following week, reported 24NewsHD TV channel.

“The textile industry of Pakistan is making progress despite problems. The share of textile sector in the exports of the country is 60 percent,” he stated.

“The industrialists feel happy when they come to Pakistan. The government believes in the supremacy of the law,” he emphasised.

Shehbaz Sharif stressed the country’s exporters to come up with innovative and unique ideas to boost exports which would ultimately help the country earn valuable foreign exchanges. “Despite various challenges, we have very robust, very futuristic, and extremely hardworking entrepreneurs that have gradually built Pakistan’s export culture,” he said while addressing a ceremony at the Textile Expo in Karachi.

He said with genuine government support combined with the entrepreneurs’ extraordinary intellect and hard work, the provision of quality export goods to foreign customers would be ensured.

Welcoming the foreign delegates, the PM said he was happy to learn that over 400 foreign delegates from 60 countries were visiting on the occasion showed Pakistan was a valuable destination for foreign guests, buyers, and traders.

Shehbaz Sharif also appreciated the industrialists, exporters, and experts who had contributed immensely to promoting Pakistan’s textile and leather exports.

He said Pakistan’s industry had now been transformed and converted to air jet looms, ginning, spinning, and waving.

Commerce Minister, Secretary Commerce, and Zubair Motiwala, he said had done a commendable job by arranging this expo which would help promote the country’s exports.

The PM said the textile sector constituted 60% of total exports while 40% labour force was absorbed in this sector. “It is no doubt one of the largest sectors of Pakistan’s economy,” he added.

He pointed out that despite financial challenges and other difficulties, the government was committed to providing genuine support to all the export sectors including textile, leather, and sports to help increase the country’s export volume.

He recalled that a few decades ago, Pakistan was ahead of its neighbors in textile exports, however unfortunately it lost the grounds. “But I have no doubt in mind that we can still recover from these setbacks and take hands off the clock back to 1990s and excel in our exports,” he said adding that Naveed Qamar, its team, and the finance minister combined could turn the table.

The PM said Naveed Qamar had put in place the national compliance cell which was the need of the hour and “we are obviously grateful to the European Union for GSP plus status and again I am aware of the fact that all reviews have been done, and we … respect all international requirements in this behalf whether it is good governance, human rights or any other requirement”.

He maintained the government believed in the rule of law and merit, and come what may, the government would toe the line of constitution and policies.

Commerce Minister Syed Naveed Qamar on the occasion said Pakistan offered numerous opportunities for investment to foreign investors.

He stressed the need to provide more incentives to the exporters to boost the exports of the country. He also assured the entrepreneurs of the government’s full support saying that it would provide a conducive environment for them to help Pakistan not only to build up the country’s foreign exchange reserves but also to lessen their dependence on international lenders.

He said last month the government set up the compliance cell in the ministry to coordinate the efforts for meeting all the conditionalities for various programs including GSP Plus.

Chairman Trade Development Authority of Pakistan (TDAP) Zubair Motiwala said Pakistan was known for the standard textile products around the world.