Centre is mulling to provide subsidised loans to textile industry in the forthcoming textile policy to help export-oriented industry in the wake of rising interest rates.
A senior official of Textiles Ministry informed that Government is planning to define the technical upgradation fund in the textile policy to dress up the local mills with modern technologies.
Federal Textile Secretary, Syed Masood Alam Rizvi opined ministry is receiving offer and suggestions from various associations and individuals, and July 16 is set as deadline for receiving such proposals.
Rizvi added that each proposal was being taken very seriously, which also includes industry's appeal for flexible loans from banks with the help of subsidy offered by the textile ministry.
Federal Textile Minister Chaudhary Mushtaq Ali Cheema stated last week that national textile policy would be declared in the month of August 2005 after talks with all stakeholders.
The textile policy would cover the issues which were not defined in the federal budget 2005-06, said Rizvi.
Rizvi said that policy would also encourage textile machinery production indigenously, and to do so the textile policy would definitely facilitate so the import and cost of production could be pull-down.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
