The government has established a textile programme aimed at strengthening the industry’s ability for long-term development in textile exports.
Adviser on Commerce Razak Dawood told a press conference in Islamabad on Wednesday that the policy had been adopted by the federal cabinet during its meeting yesterday.
He said that one of the policy’s primary aims was to provide the textile sector with globally competitive gas and power rates. as reported by Radio Pakistan.
Dawood said that the government decreased tariffs on raw material imports in the budget and that this tariff reduction was maintained in the policy. Similarly, he said that we will continue to finance the textile sector.
The consultant said that the textile industry is seeing tremendous expansion at the moment. He predicted that textile exports will reach $21 billion by the end of this fiscal year, up from $15 billion last year. He said that this represented a 26 percent increase in the textile industry.
Dawood also recommended increased value addition and diversity of goods to leverage the country’s potential in textiles.
