ISLAMABAD, Pakistan: President Mamnoon Hussain on Thursday emphasized adoption of modern techniques based on research to match the requirements of contemporary industrial world.
In his address at the convocation of National Textile University (NTU) held at Jinnah Convention Centre in Islamabad, the president said textile industry was Pakistan’s backbone making upto 65 percent of national economy. He said Faisalabad had an extraordinary importance in this regard, being the hub of trade and commerce.
The president said due to his personal association with textile industry in the past, he was aware of its related problems and had also suggested the finance minister to consider giving an ample subsidy to this industry.
President Mamnoon said textile industry in the past suffered a lot due to inappropriate policies and electricity shortage. However, he expressed satisfaction that the government under a comprehensive strategy had overcome the electricity crisis to a great extent and new power generation projects were being set up to meet future needs. He said self-sufficiency in electricity would promote the industrial sector including textiles.
President further said the Country’s textile sector had huge scope to benefit from the China Pakistan Economic Corridor (CPEC) and called upon the NTU to prepare their students to benefit from the opportunities offered by this mega project.
The president said much time and resources were wasted in past tenures which caste a negative impact on national economy, and regretted that areas of health, education and power generation were also neglected. However, he said now the government had regained economic stability with better fiscal policies.
In addition, the president termed youth the leaders of future who had a role to play for the Country’s betterment.
The president felicitated the graduates of National Textile University and expressed confidence that they would better contribute to the textile industry with their expertise. He also gave away gold medals among the graduates for their remarkable academic achievement.