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Pakistan spinning sector gifted with 3 percent mark-up subsidy
27
Feb '09
On the lines of incentives provided by other countries like China and India to their respective textile and garment sectors, the Pakistan government has also approved a mark-up subsidy of 3 percent to the spinning sector for a period of two years.

This was announced by the Textiles Minister, Mr Khan in a statement issued on Thursday. The period would begin from July 1, 2007 and end on June 30, 2009 and the amount payable till December 2008 would be paid in March 2009 and for this year in July.

The government has already earmarked Rs 1.7 billion against the 3 percent subsidy, by depositing the same with the State Bank of Pakistan and made provision for another Rs 4 billion to be paid under the R&D fund.

Fibre2fashion News Desk - India

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