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Pak ministry working to get textile policy cleared by ECC

Aug '20
Pic: Shutterstock
Pic: Shutterstock
Pakistan’s commerce ministry is busy trying to get the Textile Policy 2020-25 approved from the Economic Coordination Committee (ECC) as unless it policy is implemented, rise in exports is not possible, according to adviser to the prime minister on commerce and textile Abdul Razak Dawood, who recently said the ministry is working on the procedures on how to implement it.

Prime Minister Imran Khan approved the policy several months back.

Supporting the demand of the textile sector for continuation of the regional tariff on electricity and gas for next three years, Dawood said he himself is trying to get notified the regional tariff for the export industry for fiscal 2020-21.

The ministry will soon prepare a summary for ECC seeking the approval of regional tariff of gas at $6.5 per MMBTU and electricity tariff at 7.5 cents per unit for the fiscal 2020-21, according to a report in Pakistani newspaper.

According to Shahid Sattar, executive director of All Pakistan Textile Association (APTMA), the country’s textile exports have increased by 14.5 per cent in July while overall exports have increased by 5.8 per cent.

Fibre2Fashion News Desk (DS)

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