Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News Pakistan launches plan to promote textile industry development

Pakistan launches plan to promote textile industry development



According to a report by Pakistan’s “National” on July 21, the Pakistani government announced that it will invest 64.1 billion rupees (about 600 million U.S. dollars) in the next five years (2…

According to a report by Pakistan’s “National” on July 21, the Pakistani government announced that it will invest 64.1 billion rupees (about 600 million U.S. dollars) in the next five years (2015-2019) to promote the development of the textile industry, and plans to achieve 260 textile exports by 2019. billion dollar target.

Relevant support policies of the Pakistani government include adjustments to export rebate rates, tax exemptions, loan subsidies, and R&D subsidies. Among them, 40.6 billion rupees will be used for tax rebates, technology upgrades and brand promotion, and 23.5 billion rupees will be used for skills training, textile exhibitions and incubator projects. According to the plan, the government will provide skills training for 120,000 workers and select 50 small companies each year for policy support in the next three years. The government hopes to use these measures to increase the added value of the textile industry and provide employment for 5 million people.

The textile industry is the most important manufacturing sector in Pakistan, with a long industrial chain and high added value. From cotton cultivation to ginning, spinning, fabrics, dyeing and garment cutting, the textile industry contributes 40% of employment, 40% of bank credit, 54% of exports, and 25% of industrial added value to Pakistan.

According to reports, Pakistan’s textile industry has been at a standstill in the past 10 years due to internal and external factors such as price distortions, market constraints, global economic recession and subsidy strategies of other countries. Pakistan launches plan to promote textile industry development

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Author: clsrich

 
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