Rs10b sanctioned for textile, export sectors

The Ministry of Commerce has sanctioned Rs10 billion for the textile and apparel industry and other export sectors under the Duty Drawback and Technology Upgradation Schemes, aimed at improving industrial liquidity and supporting export growth, the ministry said on Saturday.

Federal Minister for Commerce Jam Kamal Khan announced the development on X, expressing confidence that the funds would provide much-needed liquidity support to export-oriented industries and enable them to enhance their export performance in international markets.

"I hope this will improve the liquidity of industry and enable them to enhance exports," Khan said.

The sanctioned funds are expected to provide liquidity support to export-oriented industries and facilitate technological upgradation, enabling exporters to improve their competitiveness and expand their presence in international markets. The initiative reflects the government's continued focus on strengthening Pakistan's export sectors, facilitating industry and creating an enabling environment for sustainable export growth. The Duty Drawback Scheme allows exporters to claim refunds on duties paid on imported raw materials used in manufacturing exported goods, while the Technology Upgradation Scheme provides financial support for modernising machinery and production processes. Together, these schemes are designed to reduce production costs and enhance the quality and competitiveness of Pakistani exports in global markets.

The textile and apparel sector, which remains Pakistan's largest export earner, is expected to be a major beneficiary of the sanctioned funds. The initiative is also expected to benefit other export-oriented sectors, including leather, sports goods, surgical instruments and pharmaceuticals.