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Govt to announce technology up-gradation scheme

09
Apr '10
Under the aegis of the Textile Policy 2009-14, the federal government of Pakistan will announce an incentive scheme to invest in new machinery and technology, under the 'Technology Up-gradation' scheme' and has allocated funds for the same for the current fiscal year.

Speaking exclusively to fibre2fashion, Mr Anwar Ahmed Tata, President of All Pakistan Textile Mills Association (APTMA) confirmed the development by saying, “We are very happy to receive this type of support from the government to upgrade technology”.

This scheme will have a validity period starting from September 2009, and will remain valid up to June 2014. The scheme covers most of the machinery and equipment used in the textile value-chain and will prove to be immensely beneficial for the sector to maintain its competitiveness.

This scheme has proved to be immensely successful in neighbouring India, where the various segments within the textile value-chain took it as an opportunity to improve quality and productivity. However the same type of scheme failed to attract interest in Indonesia, due to which the government withdrew the scheme, last month.

Fibre2fashion News Desk - India


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