ISLAMABAD: Islamabad Chamber of Commerce & Industry (ICCI) President Muzzamil Hussain Sabri has termed the targets set in Textile Policy 2014-19 quite ambitious in the presence of current energy crisis and other challenges.
The ICCI president asked the government to take solid measures to transform these targets of the Textile Policy 2014-19, which aims to boost textile and clothing sector exports from $13 billion to $26 billion by 2019. He said the government has already lost one year by delaying the announcement of textile policy and new policy should have been announced for the period 2015-20 to realise its set goals.
He said in the Strategic Trade Policy Framework 2012-15, government had targeted to increase Pakistan’s cumulative exports to $95 billion during 2012-15, however, the country was still way behind in achieving this target as energy crisis has badly affected the industrial productivity and exports. He said that the targets set in new textile policy should not meet the same fate. He lauded the government’s initiative to offer about Rs.64.15 billion cash subsidy to the textile and clothing sector in the new textile policy and hoped that if implemented, this concession would help in improving textile exports.
