ISLAMABAD: The federal government is all set to announce the Textile Policy2020-25 during the current week.

The export target has been fixed at $20 billion in the new Textile Policy,which has been finalised after consultation with all the stakeholders.

Under the proposed textile policy, the electricity tariff will be at 7.5cent per unit while duties at the Gas, water, and others will be reduced toboost the sector, said the well-informed sources within the Textileministry.

The proposed policy will help in boosting employment opportunities formillions of people. Meanwhile, the All Pakistan Textile Mills Associationhas welcomed the proposed Textile Policy of the federal government andpinned hope that this will put the economy on track.

It is to be noted that Prime Minister Imran Khan has approved the TextilePolicy 2020-25 last week.

Read more: Faisalabad textile industry seeing massive rise in exportorders: PMlink

On November 19, Prime Minister Khan had directed the authorities concernedto resolve the problems facing the textile industry in Faisalabad at theearliest.

Talking to a delegation of business representatives and exportersassociated with the textile industry in Faisalabad, he had directedMinister for Industries and Production Hammad Azhar to consult with all thestakeholders about setting up of an Expo Center in the city.