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PM’s Package: Textile sector receives Rs44.5b

ISLAMABAD: The Ministry of textiles has so far paid Rs 44.5 billion to the local textile industry under PM’s Exports Enhancement Package since July 2017, with an objective to help boost exports.

During the last ten months, the ministry paid Rs 20 billion to the textiles industry, while it intends to pay more Rs 6 billion in coming month of July, the official said.

During the upcoming year, the government would pay further Rs30 billion to the textile sector for value addition, which the official said would boost country’s external trade.

The Exports Enhancement Package was aimed at bridging gap between exports and imports by encouraging the export-oriented industry and incentivizing the industrial sector for introducing the innovative, modern and cost cutting technologies, particularly in the textile industry.

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.