ISLAMABAD: Ministry of Textile and Industry would announce new textile policy 2014-15 in first week of September 2014 to plan the future strategy for textile industry and to facilitate the small industry for the economic development of the country.
Talking to APP here Wednesday, Spokesman of Textile Ministry Kanwar Usman said that new textile policy would be comprehensive which would provide facility and benefit the small industries.
He said that an amount of Rs.82 billion has been allocated for the ministry in budget of current fiscal year by the government.
The spokesman of textile industry said the ministry would consider the plan for brand development fund to introduce the local brand of industry in international market and award for leading exporters.
He said that priority of ministry was to facilitate the small industry like hand made carpet,hand made loom sector,silk based industry and also to provide them financial assistance.
Replying to a question, he said in new textile policy the government would establish Product Development Centre to facilitate the international firms for receiving orders at low cost from small industries.
He added that the ministry would also establish the new garment houses in four big cities of the country to meet the competition in international market and facilitate the local small industries.
The Spokesman said that the government has allocated Rs.4.4 billion in fiscal budget of current year to facilitate the training on 120,000 textile workers to equip them with modern skills.
Replying to question, Spokesman of textile industry said that civil disobedience call by Chairman Pakistan Tehrik-i-Insaf has negatively affected the foreign investment and economic situation of the country.
He added that the business community and traders from all over the country have rejected the civil disobedience call of the PTI Chairman.
He said that sit-ins and agitations would cause huge loss to the national economy and also put a negative impact on the local business across the country.
He said that after the sit-ins by both political parties the local stock exchange witnessed bearish trend in the current week, which had a negative impact on the economy.
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