Textile Policy ’09 enhances textile exports – Minister

    Federal Minister for Textile Industry, Rana Farooq Saeed Khan recently said that, it is well evident from the sustainable rise witnessed in textile exports over the last two years that the textile sector is heading ahead on the right path, which has been possible due to the apt implementation of the 2009’s “Textile Policy”.

He said that, the Ministry of Textile Industry since the declaration of the Textile Policy in 2009 has initiated various effective steps so as to put the sector on a path of activity and vigour. The efforts that the Ministry undertook, since it assumed power to develop and boost the sector, have been reaping positive results so far, the Minister said.

The July to December 2010 period saw the textile export sector of the country registering a growth of 22.37 percent, as over the corresponding period last year. Under the textile category various items registered differential growth levels like the raw cotton exports registered a rise of 11.91 percent, cotton yarn exports grew by 17.80 percent, cotton cloth by 27.87 percent, readymade garments by 33.09 percent, yarn other than cotton yarn by 15.43 percent, towels by 7.32 percent, synthetic fabrics by 76.43 percent and hosiery and knitwear by 20.67 percent.

The Minister stated that, such effective development of the sector’s export became possible on account of several measures initiated by the Ministry since the very announcement of the Textile Policy. Further he even revealed that, a sum of Rs 4.825 billion has been sanctioned in relation with several support schemes floated by the Textile Ministry, which includes Rs 200 million allocated for the ‘Export Finance Mark-up Rate Facility’ scheme. The SBP (State Bank of Pakistan) has been urged to pay out the fund amount against the claims, on immediate basis.