The government
has approved textile policy to boost the capacity of textile industry with the
aim to ensure sustainable growth in textile exports.

Addressing a news
conference in Islamabad on Wednesday, Adviser on Commerce Razak Dawood said the
policy was approved by the federal cabinet at its meeting yesterday.

The Adviser said one
of the main objectives of the policy is to give internationally competitive gas
and electricity tariff to the textile industry.

Razak Dawood said the
government had reduced duties on the import of raw material in the budget and
this tariff rationalization has been maintained in the policy. Similarly, he
said, we will continue to provide financing facility to the textile industry.

The Adviser said a
phenomenal growth is currently being witnessed in the textile sector. He said
the textile exports are expected to touch twenty one billion dollars by the end
of this fiscal year as compared to the fifteen billion dollars last year. He
said this is a twenty six percent growth in the textile sector.

Razak Dawood also
emphasized for greater value addition and diversification of products to tap
the country s potential in the textiles.

 

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2022-02-16

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