A.Rafay
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ISLAMABAD - The export of textiles products is witnessing a boost as the sector contributed around $ 40.2 billion precious foreign exchange to the national kitty during the last three years. Per year-wise break-up, Pakistan earned $ 10.3 billion through exports of textiles products during 2009-10, $ 13.8 billion during 2010-11 and US $ 12.5 billion during 2011-12.
A senior official on Tuesday said in the first quarter of current year 2012-13 (Jul-Sep) the exports of textiles products have been recorded at $ 3.60 billion which is a good sign. He said during the last five years the exports of textile sector have seen an increasing trend from $ 10.3 billion to $ 12.5 billion, registering an increase of around 20%. Enumerating the measures adopted during the period, the official said a detailed in-house analysis has been conducted as a result of which Textiles Policy (2009-14) document was prepared by the Ministry of Textile to identify the loopholes. He said the Textiles Policy (2009-14) was duly approved by the cabinet in which various initiatives were stated to support the textile sector. Moreover, the official said the government was taking a number of initiatives to strengthen and support value-added products of cotton. The indicative list of such interventions are drawbacks of local taxes & levies scheme, Employees Old-Age Benefits Institution (EOBI) and social security contribution reimbursement scheme for women and handicapped, mark-up rate support scheme for textile sector, export finance mark-up rate support scheme, duty free import of textile related machinery facility, refund of past R&D support claims, establishment of garment cities at Lahore and Faisalabad and establishment of Pakistan textile city, Karachi.
Textiles exports contribute $40.2b to national kitty | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia
A senior official on Tuesday said in the first quarter of current year 2012-13 (Jul-Sep) the exports of textiles products have been recorded at $ 3.60 billion which is a good sign. He said during the last five years the exports of textile sector have seen an increasing trend from $ 10.3 billion to $ 12.5 billion, registering an increase of around 20%. Enumerating the measures adopted during the period, the official said a detailed in-house analysis has been conducted as a result of which Textiles Policy (2009-14) document was prepared by the Ministry of Textile to identify the loopholes. He said the Textiles Policy (2009-14) was duly approved by the cabinet in which various initiatives were stated to support the textile sector. Moreover, the official said the government was taking a number of initiatives to strengthen and support value-added products of cotton. The indicative list of such interventions are drawbacks of local taxes & levies scheme, Employees Old-Age Benefits Institution (EOBI) and social security contribution reimbursement scheme for women and handicapped, mark-up rate support scheme for textile sector, export finance mark-up rate support scheme, duty free import of textile related machinery facility, refund of past R&D support claims, establishment of garment cities at Lahore and Faisalabad and establishment of Pakistan textile city, Karachi.
Textiles exports contribute $40.2b to national kitty | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia
