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Pakistan bending over backwards to save textile sector
09
Mar '09
The present government in Pakistan seems very concerned with the developments in its main export generator, textiles and garments. In the last few weeks a slew of sops have been announced along with holding seminars across various cities of Pakistan, with the final one scheduled at the President's residence.

In the latest announcement made by the Textile Minister Mr Khan, the government has made arrangements with the State Bank of Pakistan to pay R&D unpaid subsidy claims totaling to Rs 4 billion. In another development the spinning sector has also received a bonanza in the form of mark-up subsidy of 3 percent for a period of two years.

“The government seeks to boost textile exports to US $40 billion in the next few years”, said the Minister of Textiles, Mr Khan, while inaugurating the International Machinery Exhibition of Garment & Textile Technology, “MEGATECH 2009” being held at the Karachi Expo Center and has 400 companies participating in the expo.

He added by saying, “Establishing apparel cities in Karachi, Lahore and Faisalabad coupled with various other measures, would go a long way in realization of this goal and could be harbinger for new vistas of development in the industry and the country” and assured the trade of all cooperation from the government in their hour of crisis.

The government has been organizing a series of seminars across the country in order to get relevant feedback, which will culminate in to a final seminar at the residence of the President, Mr Zardari. The purpose of this exercise is to understand the problems of the textile sector and submit recommendations to draft a flawless and comprehensive policy.

Fibre2fashion News Desk - India

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