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Pakistan textile sector may get relief in Federal Budget
01 Jun '12
1 min read
Pakistan's Textile Ministry has requested allocation of Pk Rs. 42 billion for the country's textile and garment sector in the upcoming Federal Budget.
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Shehzad Salim is optimistic that the Government would accept the request of the Textile Ministry.
He, however, added that only Rs. 14 billion would be available for the development and upgradation of the textile and apparel sector if the requested amount is sanctioned, as Rs. 28 billion would go towards clearing outstanding dues of the exporters.
Mr. Salim informed that in the last Budget, against the Textile Ministry's demand for Rs. 30-35 billion, the Government sanctioned Rs. 7.5 billion and only Rs. 6 billion was actually released.
He noted that the textile and garment industry in Pakistan employs over 38 percent of the country's total workforce, and hence any relief to the textile industry implies relief to the people at large.
Relief provided to the textile and apparel sector would lead to generation of more employment opportunities for poor unskilled workers, he added.
He said the funds allocated for the textile and garment industry would directly advantage those employed in the sector.
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Shehzad Salim is optimistic that the Government would accept the request of the Textile Ministry.
He, however, added that only Rs. 14 billion would be available for the development and upgradation of the textile and apparel sector if the requested amount is sanctioned, as Rs. 28 billion would go towards clearing outstanding dues of the exporters.
Mr. Salim informed that in the last Budget, against the Textile Ministry's demand for Rs. 30-35 billion, the Government sanctioned Rs. 7.5 billion and only Rs. 6 billion was actually released.
He noted that the textile and garment industry in Pakistan employs over 38 percent of the country's total workforce, and hence any relief to the textile industry implies relief to the people at large.
Relief provided to the textile and apparel sector would lead to generation of more employment opportunities for poor unskilled workers, he added.
He said the funds allocated for the textile and garment industry would directly advantage those employed in the sector.
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