Govt disburses Rs19bn in textile sector

ISLAMABAD: The government disbursed Rs19 billion among the textile sector against claims for Rs 25 billion through the State Bank of Pakistan under the Prime Minister’s Export Enhancement Package till January 20, 2018.

The Rs 162 billion Export Enhancement Package was aimed at helping the textile sector to gain competitiveness in the international market in order to enhance the country’s exports, a senior official of Ministry of Commerce and textiles industry told APP here on Thursday.

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

"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, the cost of doing business would come down in the country.