Rs11.44bn disbursed for textile sector under PM 's Trade Enhancement Package

ISLAMABAD: The government has dispersed Rs 11.44 billion among the textile sector against claims for Rs 20 billion through the State Bank of Pakistan under the Prime Minister's Trade Enhancement Package till November 22 ,2017, a commerce ministry's senior official said here on Tuesday.

The Rs 162 billion Trade Enhancement Package was aimed at helping the textile sector to gain competitiveness in the international market in order to enhance the country’s exports, the official told APP.

“The government wants to revive confidence of the textile sector through the package,” he said, adding that the package would be expanded to other industrial sectors, including the pharmaceuticals.

“We are committed to providing an enabling business environment to all the industrial sectors,” he added.

The government, the official said, had also given procedural and tax relaxations 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.

While talking to APP, All Pakistan Textile Mills Association (APTMA) General Secretary Anis-ul- Haq stressed on the need for providing a competitive business environment to the textile sector to enhance exports.