Home / Knowledge / News / Textiles / Govt formulates new cotton policy

Govt formulates new cotton policy

27
May '10
The government of Pakistan is formulating a new comprehensive cotton policy in a bid to protect the interests of all the stakeholders, revealed Rana Muhammad Farooq Saeed Khan, Federal Minister for Textile Industry, during his speech at a seminar on 'Compliance Issues in Textile Industry' at The University of Faisalabad (TUF) campus.

Textile industry offers key support to the national economy. Improving this sector is on the government's priority list, he added.

More so, the government has decided to safeguard its cotton farmers from the market manipulators and for this it intends to procure the total production of cotton from the market and will provide it to the spinning mill, as per the demand.

The government is also devising policies for further growth of the sector and to improve its annual potential of earning $25 billion by enhancing its productivity. Thus, to assist the textile sector for attaining this target, the government will provide every possible support to the stakeholders, added the Minister.

He further said that, the current government is taking all the feasible efforts to protect the stakeholder's rights in the spinning sector, value-added textile sector and cotton fabrics. In order to save the value-added textile sector from vanishing, 15 percent regulatory duty is also imposed on the exports of yarn. This sector is currently facing difficulties to achieve its international export commitments.

The value-added textile sector of the country has a potential of earning loads of foreign exchange, hence, government's intervention is necessary to save the sector from a complete collapse.

Fibre2Fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 6th May 2021

China indefinitely suspends economic dialogue with Australia

The National Development and Reform Commission (NDRC) of China has...

Pic: Shutterstock

Retail | On 6th May 2021

Ireland announces new €5 million COVID-19 Online Retail Scheme

Ireland has launched a new round of the COVID-19 Online Retail Scheme ...

Pic: Shutterstock

Textiles | On 6th May 2021

Cotlook A index expected to drop by 6.18% by June: TexPro

The Cotlook A index is expected to decline by 6.18 per cent in June...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

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

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search