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Projects initiated by textile ministry starved of funds
Jan '10
At a meeting held to review the Public Sector Development Programme (PSDP), the Federal Ministry of Finance had committed to release 30 percent of the allocation under the PSDP by December 31, 2009.

According to unconfirmed reports, only 10 percent of the funds, around Rs 53 million have been released to the Federal Textile Ministry under the PSDP till December 31. The textile ministry had initiated six projects totaling to Rs 509.746 million, against which Rs 152 million should have been allocated as per the commitment.

Out of the Rs 53 million, Rs 25 million was allocated for Lahore Garment City project; Rs 13.57 million for Export Development Plan Implementation Unit; Rs 17.33 million for Export Development Fund (EDF)-funded textile institutes and Rs 840,000 for holding of conferences and seminars.

Fibre2fashion News Desk - India

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