Home / Knowledge / News / Textiles / Pakistan's new textile policy to aim at $26bn exports
Pakistan's new textile policy to aim at $26bn exports
May '14
The new textile policy for financial years 2014-19 currently being designed by the Ministry of Textile Industry will aim at increasing Pakistan’s textile exports to US$ 26 billion over the next five years, Minister for Textile Industry Abbas Khan Afridi has said.
Speaking at a press conference, Mr. Afridi said the new textile policy, which is likely to be finalized by June 30 this year, will have special focus on value addition. The proposed policy also envisages tax incentives for import of latest machinery.
Improvement of seed quality would also be focus of the new textile policy, which also envisages imparting training in garment manufacturing to about 120,000 people over the next five years.
Pakistan is one of the five countries that have the complete textile and garment value chain from cotton production, ginning, spinning, fabric production and garment making. Despite this, the country exports only 13 value added products compared to 950 value added items that can be exported, the Minister said.
He said the Ministry is already considering revival of sick textile manufacturing units, so as to boost exports and take more advantage of the Generalized System of Preferences Plus (GSP+) status given by the EU.
Talking about the energy crisis, which is affecting textile production, especially in Punjab, the Minister said that a committee consisting of officials from the ministries of Finance, Water and Power, Petroleum and the Textile Industry has been formed to address the issue.
He informed that the Ministry has put a proposal for providing five percent cut in interest rate, and another proposal for offering subsidy on import of technology and machinery in the federal budget 2014-15. However, he added that the final decision would be taken by the Finance Ministry and no proposal would be added in the new textile policy which is not backed by the Ministry of Finance.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search