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Pakistan govt disburses Rs 158mn for five textile projects
May '13
In lines with its Public Sector Development Programme (PSDP), Pakistan Government has so far disseminated Pk Rs. 158.9 million for five key projects of the Textile Industry Division, according to The Express Tribune report.
The overall cost for the five projects is pegged at Rs. 2.081 billion, of which, it is proposed to release Rs. 227 million during the current fiscal year, the report said.
Of the amount disbursed so far, Rs. 14.7 million has been released by the Government for the Pak-Korean Garments Technology Training Institute at Karachi. The project involves a cost of Rs. 300 million, and it is proposed to release Rs. 21 million this fiscal.
Further, the Government has also released Rs. 62.3 million and Rs. 64.4 million for Lahore Garment City Company and Faisalabad Garment City Project, respectively. The two projects respectively involve a cost of Rs. 586.8 million and Rs. 498.8 million, of which Rs. 89 million and Rs. 92 would be released during the ongoing financial year that ends on June 30, 2013.
Likewise, Rs. 10.5 million of Rs. 15 million sanctioned for Extension in Export Development Plan Implementation Unit project involving a cost of Rs. 59.2 million has been released by the Government till now.
The Government has also provided Rs. 7 million for project of Providing and Laying of Dedicated 48 inch Diameter mild Steel Water Pipeline for Textile City Karachi. For the current fiscal, it is proposed to provide Rs. 10 million for the project with an estimated cost of Rs. 636.6 million, the report said quoting official sources.

Fibre2fashion News Desk - India

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