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Textile Policy initiatives dropped from budget

16
Jun '10
The Federal Textile Ministry in Pakistan had demanded budgetary provision of Rs 46 billion for various developmental activities related to the textile value-chain. These demands made up for an essential part of the Textile Policy (2009-14) announced in August last year.

However the Finance Minister has not made any provision for subsidies to be provided to the textile industry under the Textile Policy like refund of R&D claims, duty drawbacks, investment support fund, etc, which has miffed, both the ministry as well as stake holders.

Speaking to fibre2fashion a senior official in the Federal Textile Ministry revealed that, “This was a very tight budget and we will have to speak with the Finance Ministry, however, there is no allocation for the demands put up by the Textile Ministry”.

“We will sit with the Finance Minister to discuss the things further. Though off course, throughout the year, new items are added and other needs are fulfilled so we are expecting the things to work out”, he added by saying.

Fibre2fashion News Desk - India


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