Textile exports to touch US$ 21 billion by FY 2021-22 end: Razak Dawood

BusinessTextile exports to touch US$ 21 billion by FY 2021-22 end: Razak...

ISLAMABAD, Pakistan: The Prime Minister’s Adviser on Commerce Abdul Razak Dawood has said that a phenomenal growth is currently being witnessed in the Textile Sector.

While addressing a news conference in Islamabad on Wednesday, the adviser said that the textile exports are expected to touch US$ 21 billion by the end of the Fiscal Year 2021-22 as compared to the US$ 15 billion last year, which he added, is a 26% growth in the Textile Sector.

Abdul Razak Dawood said that the federal government has approved the Textile Policy to boost the capacity of textile industry with the aim to ensure sustainable growth in textile exports. He said that the policy was approved by the Federal Cabinet at its meeting held on February 15, 2022.

The adviser said that one of the main objectives of the policy is to give internationally competitive gas and electricity tariff to the textile industry.

Razak Dawood said that the government had reduced duties on the import of raw material in the budget and this tariff rationalization has been maintained in the Textile Policy.

Similarly, he said, we will continue to provide financing facility to the textile industry.

Razak Dawood also emphasized for greater value addition and diversification of products to tap the Country’s potential in the textiles.

Must read

Recent News

Iranian Foreign Minister Seyed Abbas Araghchi has arrived in Pakistan today on a two-day official visit and he will hold meetings with civil and military leadership of Pakistan. This is his first visit to Pakistan after Israel attacked Iran in response to Iranian attack on certain Israeli cities. His meetings with Prime Minister Muhammad Shehbaz Sharif and Deputy Prime Minister / Foreign Minister Senator Mohammad Ishaq Dar are confirmed. Foreign Minister Araghchi will hold consultations on the situation in the Middle East and Pakistan-Iran bilateral relations. This visit provides an important opportunity to advance cooperation and dialogue between Pakistan and Iran on a wide range of areas including trade, economic, energy and security.

Iranian FM Araghchi and Foreign Minister Ishaq Dar showed commitment to work jointly in...

0
Islamabad, Pakistan: Iranian Foreign Minister Seyed Abbas Araghchi and Foreign Minister Senator Mohammad Ishaq Dar while addressing a joint presser showed their commitment to...

Active community engagement is central for stronger ties between Pakistan and the UAE, believes...

0
Islamabad, Pakistan: "One of the challenges we face is that a segment of people misuse tourist visas to seek jobs illegally, or, in some...

Tenure enhancement of Services Chiefs brings Independence of Military

0
Islamabad, Pakistan: The recent Amendment to the Services Act by the Parliament has been well received by people from all walks of life especially...

The power of the Parliament ensures the continuity of strategic policies

0
Islamabad, Pakistan: The Parliament on Monday confirmed its supremacy by adopting much-needed bills for extending the tenures of all armed services chiefs from three...
blast in jacobabad

Six Khwarij sent to hell in Khyber Pakhtunkhwa Province

0
Monitoring Desk: On the night of 3/4 November, Six TTP terrorists (officially known as Khwarij) were killed in two separate engagements in Khyber Pakhtunkhwa...
Advertisement