New textile policy set to be launched


STAFF REPORT ISB: The draft of the new textile policy (2014-19) would be ready in a few days and then forwarded to the ECC of the Cabinet next week for approval.

“The textile sector alone has the potential to steer the country out of its financial crisis and “we have started focusing on exporting value-added products instead of raw materials to achieve this objective,” said Abbas Khan Afridi, Minister for Textiles and Industries, while talking to media.

He stressed the need for formulating a comprehensive and long-term policy, and said both the government and industry are committed to fully exploiting the potential of all related sectors of textile.

He further said that the government is giving top priority to the value-added textile sector to provide jobs opportunities to people and increasing textile exports by $2 billion per annum under the new proposed textile policy.

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