ISLAMABAD, Apr 2: Planning Commission has approved funds amounting to Rs.46.200 million for a project titled “1,000 Industrial Stitching Units” to promote public private partnership to boost the value addition in the field of textile garments.
Through the projects textile division would also establishing industrial stitching units through strengthening small and medium entrepreneurs,said a statement issued by Press Information Department (PID) here on Tuesday.
60% funding for the machinery will be provided from PSDP and 40% would be borne by the beneficiary of the stitching units.
Accordingly, Textile Division has signed MoU with SMEDA for execution of the project on 29th March, 2019. Now the project would become functional as the main hurdle has been removed.
The project will be implemented all over the country including AJK and GB.
The purpose of the project is not only to enhance exports of textile sector but also provide business/ self-employment opportunity for the garment manufacturers especially for youth at their door step in line with the vision of the present government.
National Textile University will impart six weeks entrepreneurship training to the successful applicants.
The project remained dormant since 2015.
1st Phase of the project for Establishment of 150 Industrial Stitching Units (ISU) was approved by CDWP on 15th January, 2018 at a total cost of Rs.350.545 million.
However, no allocation from PSDP was made during the current financial year 2018-19.
After taking over the charge, the Adviser to the Prime Minister on Commerce and Textile has taken serious notice on extraordinary delay of the project.
Under the guidance of the Adviser, Planning Commission was requested to allocate appropriate funds for the project during the CFY 2018-19.