Mintex Reveals Rs 25.5 Billion Given To Textile Sector Under PM Trade Package
Umer Jamshaid Published August 11, 2018 | 04:07 PM
The Ministry of Commerce and Textile has revealed that Rs 25.5 billion has been given to the textile sector in first phase under the prime minister's trade enhancement package by June 30, 2018
ISLAMABAD, (UrduPoint / Pakistan Point News - 11th Aug, 2018 ) :The Ministry of Commerce and Textile has revealed that Rs 25.5 billion has been given to the textile sector in first phase under the prime minister's trade enhancement package by June 30, 2018.
Rs. 2.6 billion was disbursed to the textile sector in first two months during Phase II from July 1 to August 07 2018, a senior official of Ministry of Commerce and Textile told APP here on Saturday.
The Ministry of Commerce and Textile had assured payments through Prime Minister "Trade Enhancement Package" to the textile sector by February 2019 to enhance the country's exports.
Replying to a question, he said the government had planned to expand coverage areas under the Trade Enhancement Package" to remaining industrial sectors including pharmaceuticals. "We are committed to providing an enabling environment for the industrial sector," he said.
The government, he said, had also given relaxation on the import of textile machinery for the modernization of industry and to enhance the capacity of the sector.
The official said that through this package cost of doing business would come down in the country.
He said the government gave priority to facilitating the textile sector and helping it gain competitiveness in order to enhance the country's exports.
"We want to revive confidence of the textile sector through the trade enhancement package.", he remarked While talking to APP, General Secretary of All Pakistan Textile Mills Association (APTMA) Anis-ul- Haq stressed the need for providing competitive business environment for textile sector to boost the country's trade.
He emphasized on structural balance and viability of industry to compete with regional competitors including India, Bangladesh and Vietnam.
General Secretary APTMA said that pragmatic and export led policies were required for industrial growth and increase in the country's exports.
Related Topics
Recent Stories
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
Putin says plans to visit China in May
More Stories From Business
-
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
2 hours ago -
Pak-US officials engage to enhance trade, investment ties
3 hours ago -
Stocks fall as tech shares sink, US economy slows
4 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
5 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
5 hours ago -
Industries Minister recommends urea fertilizer import to stabilize prices and supply
5 hours ago
-
Honda announces US$11 bn EV battery and vehicle plant in Canada
5 hours ago -
Zhao Shirin calls on Punjab Industries Minister
5 hours ago -
CEO APM Terminals calls on Finance Minister
5 hours ago -
SACM visits GTVC checks attendance register
5 hours ago -
CEO APM Terminals meets Commerce Minister
5 hours ago -
RTO destroys huge quantity of non-duty paid cigarettes
6 hours ago