ISLAMABAD: The country’s textile exports will likely to be enhanced to $26 billion mark by 2019 as the government has decided to give the sector Rs64.15 billion cash subsidy under the Textile Policy 2015-19.
According to the official sources, the announced incentives include special duty-drawback rates, duty exemption on plants and machinery and subsidy on long-term loans.
The Finance Division would provide Rs40.6 billion over five years for duty drawback, technology up-gradation and brand development while another Rs23.5 billion would be provided for skill development, dedicated textile exhibitions, establishment of world textile centre, weaving city, incubators, apparel house and mega textile awards.
Sources said around 120,000 persons would be trained through skill development programme and 50 small companies from the sector would be picked each year, for next three years, to support the government. The proposed measures would promote value-addition and generate employment for more than 5 million people, the sources added.
