Home / Knowledge / News / Textiles / Pakistan Govt releases Rs 1.61bn for textile schemes
Pakistan Govt releases Rs 1.61bn for textile schemes
13
May '11
Mr Shahid Rashid
Mr Shahid Rashid
The Government of Pakistan is doing all it can to enable the textile sector to achieve the target of textile exports of $25 billion, according to Shahid Rashid, the Federal Secretary for Textiles.

In order to support various textile initiatives the Ministry of Textiles has timely released funds to the tune of Rs. 1.61 billion and sent instructions to State Bank of Pakistan for immediate disbursal of the released funds.

Out of the original allocation of Rs. 7.5 billion for the current financial year, the Ministry had released Rs. 4.825 billion earlier. A sum of Rs. 1.065 billion is yet to be released.

The Secretary for Textiles said that his Ministry will keep on working sincerely for the sustained expansion and growth of textile sector. He added, “The government knows the importance of textile sector and all necessary steps would be taken in consultation with all stakeholders to protect and promote the industry."

Besides the release of funds, the Government has taken several steps to revive sick industries. This has resulted in an increase of growth rate of 100 large manufacturing industries by 4.85 per cent.

Realizing that textiles offer a unique and realistic opportunity to strengthen the economy for its sustainable growth, the Government has also established a fund of 10 billion rupees to protect the small and medium enterprises.

The Secretary said that the Textiles Policy has set out a development roadmap and represents a new beginning for the textiles sector. Through this policy, the government has provided necessary support for accelerating progress of textiles in Pakistan.

He added that it is now the responsibility of the private entrepreneurs, business leaders, exporters, and all others affiliated with the textile industry to transform the Government's policy vision into reality.

Fibre2fashion News Desk - India


Must ReadView All

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

Indian minister urges apparel industry for dumping data

Textiles | On 22nd Jan 2018

Indian minister urges apparel industry for dumping data

Indian textiles minister Smriti Irani recently urged the apparel...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

January 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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

Yes No

Active Poll

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

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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

Yes No

Active Poll

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

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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

Active Poll

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

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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