Textile sector: Rs42b budgetary allocation requested

ISLAMABAD: Pakistan Readymade Garments Manufacturers & Exporters Association Central Chairman Shehzad Salim has said that the Ministry of Textile Industry has requested a budgetary allocation of Rs42 billion for the next fiscal year 2012-13 from the finance ministry. If sanctioned, Rs28 billion will go towards payment of outstanding claims of exporters against various schemes leaving only Rs14 billion for the development and up-gradation work of the sector. Salim added that in the last budget, the Textile Ministry asked for Rs30-35 billion, out of which only Rs7.5 billion were allocated and only Rs6 billion were paid, the balance amount has lapsed, said in a statement issued here on Wednesday. If relief is provided to the sector, it will result in more job creation for the poor unskilled workers, he said.

Published in The Express Tribune, May 31^st, 2012.