ISLAMABAD: The Research Development and Advisory cell of textile ministry has prepared a bill envisaging wide-ranging measures to encourage value-addition in textiles and to give rights to Textile Ministry for legislation about promotion of textile exports.
The bill enabled the ministry to raise standards, store and enhance exports quality of textile goods of country.
Previously, RDA prepared an act for improvement in textile industry and enhancement of standard of textile goods which was bounced by Ministry of Law.
However, now again RDA cell prepared a bill to give Textile Ministry rights of legislation about textile industry and export. The proposed bill will be cleared by the National Assembly Standing Committee on textiles after its approval from Law Ministry with minor changes in it. After that the bill will be produced in the parliament for approval. This bill will enable Textile Ministry to take revolutionary steps for the development of textile industry.
The textile sector contributes eight per cent to GDP and produces 24 per cent of industrial value-added products. Also textile employs 40 per cent of industrial work force adding its share in exports around 54 per cent.
It is important to mention here that target for textile export was to increase to the level of US$ 26 billion which could not be achieved and export value remained at US$ 14 billion. The target seems to be un-attained even continues increase in valuation addition.
Pakistan SMEs can get up to Rs150,000 grant to join Alibaba; here’s how to apply
LAHORE: Pakistani small and medium-sized businesses have a new opportunity to enter international markets through e-commerce giant Alibaba.com, with the...
