Govt finally pays attention at loss making textile sector
29 Jul '08
1 min read
The textile industry of Kazakhstan comprises of a group of light industries that turns natural, synthetic and artificial fibres in to yarn and fabrics. Earlier the textile and garment sector of the nation played an important role in earning foreign currency.
However, the sector has now started booking losses, which has made the authorities take serious measures to bring the industry back on track.
As a result, a high level meeting was conducted recently in which Karim Massimov, Prime Minister of Kazakhstan has suggested the formation of a working group that would help in the development of light industry.The group will be headed by the Industry and Trade Minister.
Industry insiders believe that, the sector has the capacity and potentiality to turn into profit making industry. Even the conditions are favourable for the production of raw material for the other related industries.
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