IFC, a member of the World Bank Group, is helping Pakistan leading textile producer, Nishat Mills, reduce its environmental footprint and improve competitiveness by identifying opportunities for energy and water savings.
IFC Resource Efficiency Advisory program will provide Nishat Mills, which has a large production facilities for spinning, weaving, processing, and stitching, an assessment of energy and water efficiency opportunities at its Lahore plant, says a statement.
Pakistan textile sector is an important foreign currency earner, making up 8.5 percent of Pakistan Gross Domestic Product, said Nadeem Siddiqui, IFC Country Manager in Pakistan.
It is also a key consumer of energy in a country presently being tested by a power crisis. For that reason, engagements helping first movers to address common challenges in energy and resource consumption are crucial.
IFC advises clients on options to reduce operating costs, minimize waste, and decrease harmful environmental impact. Along with these recommendations, IFC will also offer Nishat an action plan with key priorities, investment estimates, and an implementation schedule.
IFC has unmatched data and resources and this allows us to accurately benchmark our performance with the best of the best global players, Umer Mansha, Chief Executive Officer of Nishat Mills Limited, said. Nishat values IFC expert and impartial opinions on resource efficiency.
Pakistan represents IFC largest exposure in the Middle East and North Africa region. In the last three years, IFC has ramped up its investments and advisory services work to support the development of PakistanA¢€â€ž¢s private sector.