ISLAMABAD – The government has provided Rs. 42 billion to the local textileindustry under “Prime Minister Exports Enhancement Package” for enhancingtextile exports.
The initiative was aimed at bridging the gap between local exports andimports by encouraging the export-oriented industry and incentivizing theindustrial sector for introducing the innovative, modern and cost-cuttingtechnologies, particularly in the textile industry, said a senior officialin the ministry of and textile industry.
Talking to APP on Wednesday, he said that so far, State Bank of Pakistanhas received the 275,000 refund claims under the package and it wasprocessed accordingly.
He said the package was introduced in 2016-17 and in first five months, thegovernment had paid an amount of Rs. 5 billion, adding that in the fiscalyear 2017-18 the government had cleared the refunds amounting Rs. 26billion.
He said that in the last seven months, the government had paid Rs. 11billion in outstanding claims, adding that pending liabilities of Rs. 23billion would be paid off by the government in the coming few months.
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He said, “We are committed for the execution of PM export enhancementpackage for development and growth to the textiles sector for increasingcountry’s export.” He further said the priority of the government isincreasing the country’s exports and job opportunities for the people.
He said that the textile sector was also working towards modernizing andimproving the skills of textile workers by using modern technology andtools.
