FCCI chief stresses developing import substitution industry

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The import substitution industry must be developed on war-footing to bridge the widening gap between imports and exports, said Atif Munir Sheikh, president Faisalabad Chamber of Commerce & Industry (FCCI).

Addressing businesspeople here on Friday, he said that exports were a prerequisite to stabilise national economy on a sustained basis, but the widening gap between imports-exports had become a major challenge for the country. He said that textile was the main foreign exchange earning sector and almost 45 per cent of the total textile export was contributed by Faisalabad alone.—APP