LAHORE: Federal Minister for Textile Industry Abbas Khan Afridi said that next five-year textile policy for 2014-19 will be announced after June 30. However, its several major points will be incorporated into the upcoming budget. Addressing a news briefing after a ‘Consultative Conference on Textile Policy- 2014-19’, he said that the new textile policy 2014-19 will address genuine concerns of the industry with innovation and extraordinary solutions. He stated that the budget will announce incentives for the garment industry with a view to reap benefits of GSP Plus status granted by the European Union to Pakistan. The minister said that textile sector was an engine of growth for creating employment and increasing exports and this sector might not be seen for revenue collection only. The conference was attended by representatives of textile sector including APTMA Punjab Chairman SM Tanveer, group leader Gohar Ijaz, PRGMEA chief coordinator Ijaz Khokhar, senior vice chairman north zone Jawwad Ch and several other industry representatives.
He said that value-addition was supported by all associations because if we are earning $3 then with value addition can be earned up to $25. Afridi said that there were investors in the country who wanted to invest in textile sector that is why we wanted to give this opportunity to them instead of foreigners. Earlier, during ‘Consultative Conference’, the stakeholders discussed various issues relating to energy, product diversification, encouraging investment, trainings and improved factory floor management.
