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Textile sector set to get booster dose in upcoming budget
13 Jun '09
1 min read
The industrial manufacturing sector in Pakistan is expected to get a booster dose and a shot in the arm, particularly the textile sector as and when the budget for the next fiscal year is announced by the government.
The manufacturing sector, particularly the textile industries in the country which contribute nearly 65 percent to the overall export basket of the country are going through a very depressing phase.
The industrial sector is likely to be allocated around Rs 70 billion for its revival. The major industries expected to be benefited from this fund are textiles, apparels, leather goods, gems and jewellery and sports goods.
Among other measures, the government is also contemplating reducing the tariffs on gas supply, a vital component of industrial development due to the fall in crude oil prices which is expected to help industries regain competitiveness.
The manufacturing sector, particularly the textile industries in the country which contribute nearly 65 percent to the overall export basket of the country are going through a very depressing phase.
The industrial sector is likely to be allocated around Rs 70 billion for its revival. The major industries expected to be benefited from this fund are textiles, apparels, leather goods, gems and jewellery and sports goods.
Among other measures, the government is also contemplating reducing the tariffs on gas supply, a vital component of industrial development due to the fall in crude oil prices which is expected to help industries regain competitiveness.
Fibre2fashion News Desk - India
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