ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said the government is mulling a Rs200 billion bailout package to modernise the of the textile industry.
The minister, while informing the Senate Standing Committee on Textile Industry, said that on the directive of the prime minister a special package was under consideration for introducing new technology and massive infrastructural modernisation of the textile industry.
Dastgir said that the government would give special incentives on taxes for the industries to enhance value addition. He said that the government was committed to technological revival of textile sector and would compete with other regional competitors emerged in last decade.
A six-member committee consisting of officials from relevant ministries and stakeholders was constituted to review the challenges facing by the textile industry. He added that the committee has come up with comprehensive recommendations for the revival of the industry.
