Cabinet approves 3rd Textiles and Apparel Policy

February 16, 2022 (MLN): The Federal Cabinet has approved the 3rd Textiles and Apparel Policy aiming to consolidate the growth already achieved in the textile sector, Adviser to PM for Commerce and Investment said today.

In a series of tweets, he said that one of the main objectives of this policy is to maintain regionally competitive energy rates throughout the policy period and to enhance exports of higher value-added with products and geographical diversification.

It will also increase the economy of scales/production capacities and capacity Building in terms of infrastructure and supply chain development, marketing, compliances, and R&D.

The other objectives include formulating strategies to promote Made in Pakistan, facilitating international buying houses to establish offices in Pakistan and initiating mass level training programs especially for Women and SMEs for Skill Development.

He congratulated all the exporters for the remarkable achievement so far, adding that he is sure it will be maintained throughout the policy period.

Addressing a news conference today, he said that phenomenal growth is currently being witnessed in the textile sector. He stated that the textile exports are expected to touch twenty-one billion dollars by the end of this fiscal year as compared to the fifteen billion dollars last year.

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Posted on: 2022-02-16T17:22:25+05:00