Envoy asks depressed industry to invest in energy-rich Paraguay

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LAHORE - Paraguan Ambassador to Pakistan Ausberto Rodriguez Jara Paraguay has invited textile manufacturers, hit by energy shortage in Pakistan, to invest in his country, having the cheapest electric power in the region, besides impressive hydel electricity production capacity of 18000 MW. Paraguay offers number of incentives to attract foreign investment including exemption of taxes on remittances of profits abroad and low cost electricity supply, he added.

The envoy during his visit to All Pakistan Textile Mills Association (APTMA) on Wednesday said that Paraguay is located at the heart of South America and a member of MERCOSUR. The country can be a gateway into the markets of Argentina and Brazil.

Central Chairman APTMA Ahsan Bashir welcomed him to APTMA. Office bearers and other executive committee members were also present on the occasion.
Head of International Trade Committee Amir Fayyaz Sheikh made a detailed presentation on Pakistanís textile industry, and briefly explained the importance of the textile industry in Pakistan.

He explained on various APTMA initiatives i.e. Sustainable Production Centre, Renewable Energy & Energy Efficiency Initiative, Cotton Research, Support & Management, Textile Education and Better Cotton Initiative are a few major steps taken by APTMA recently in the larger interest of its members.

Courtesy: The Nation


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