Home / Knowledge / News / Textiles / Textile firms optimistic regarding first textile policy
Textile firms optimistic regarding first textile policy
19
Feb '10
A multitude of issues are currently facing the Pakistan textile industry. The sector needs to enhance its product quality, upgrade the technology, and encourage appropriate research and developmental activities.

High interest rates, costs of inputs, and non-guaranteed energy supplies also hinder the competitiveness of the industry. Increasing interest rates have seriously affected small owners, while hindering in the growth of textile tycoons.

Due to the global meltdown, textile exports of Pakistan were down by 9.5% during 2008. Textile owners felt it was imperative for the Government to take actions that would result in a positive impact on the industry.

The Pakistan Government announced the first ever textile policy, 2009-2014, in order to boost exports of the country. Chaired and approved by the Prime Minister Yousaf Raza Gilani, it aims to enhance the existing 10 billion USD exports to 25 billion USD by 2015. The challenges faced by the industry during the quota-free trade regime are optimistically believed to be suppressed by the policy.

The policy enables an amount of 42 billion rupees in subsidies, and incentives during the fiscal year 2009-2010. Export refinance is reduced at a rate of 5% with a Rs. 2.5 billion allocation.

Rs.5 billion is allocated as a relief on the existing long term loans of the textile industry. Duty drawbacks are offered between 1 to 3% for a period of two years for value added textile exports which will aid the industry to offset both its direct, and indirect costs. It also exempts the industry from lead shedding and allows it to have a prioritized gas supply.

A Technology Up gradation Fund (TUF) is proposed to contribute around 20% of the capital cost as a grant. The Government has currently allotted Rs.1.6 billion for this, will is planned to be increased to Rs.17 billion by 2014.

Click here to read the complete article.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X