ISLAMABAD: Farrukh Habib, Minister of State for Information and Broadcasting, announced on Friday that the large-scale manufacturing sector grew 7.4 percent in the first six months of the current fiscal year, which runs from July to December 2021-22.
In a tweet, he said, “This is a sign of economic stability, demonstrating that growth in significant industries stimulates economic activity.”
The state minister said that the data was sufficient to silence those who wailed unduly about “economic catastrophe.”
On February 16, Adviser to the Prime Minister on Commerce Razak Dawood said that the government has adopted a textile strategy to strengthen the industry’s ability to sustain development in textile exports.
On February 15, when the federal cabinet met, he said that the policy had been agreed to by the whole cabinet.
He said that one of the main goals of the policy was to make gas and energy prices in the textile industry more competitive around the world.
Dawood said that the government decreased tariffs on raw material imports in the budget and that this tariff reduction was maintained in the policy.
Likewise, he said, the government will continue to finance the textile sector.
