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PM relief package includes textile sector in Khyber Pakhtunkhwa
06
Sep '10
The Federal Government recently has declared that, whole of the textile sector in the Khyber Pakhtunkhwa's (KP)will now be covered under the Prime Minister's Fiscal Relief Package announced for the rehabilitation of the economy in FATA, PATA and KP, regions.

The State Bank of Pakistan (SBP) circular issued recently states that, the Federal Government has amended its Fiscal Relief Package for Khyber Pakhtunkhwa, FATA and PATA to some extent, and pursuant to the same, now even the textile sector stands eligible to receive the mark-up rate subsidy on business loans taken during the period from January to June 2010.

Meanwhile, Ministry of Finance also has released sum from the budgetary allocation to pay out the mark-up rate differential on the current loans of the textile sector of KP.

Both the packages namely, Khyber Pakhtunkhwa Package and the National Textile Policy Package will be run concurrently and whole of the value chain of textiles in Khyber Pakhtunkhwa will have an option to chose either of them, while leaving out the other.

As the Khyber Pakhtunkhwa Package runs out at the end of two years, the textiles value-chain in Khyber Pakhtunkhwa would enjoy the benefits of the National Textile Policy further for two years duration, as stipulated in the National Textile Policy.

Fibre2fashion News Desk - India


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