Textile industry: New policy to help achieve targets, says Apparel Forum

Exports to be doubled to $26b, $5b investment in technology to be facilitated.

Pakistan Apparel Forum Chairman Muhammad Jawed Bilwani has praised the approval of the much-awaited Textile Policy 2014-19, saying it will go a long way towards  the betterment of the entire textile sector.

“Pakistan needs to boost its exports and this policy is expected to help enhance the capacity of value-added garment and apparel sector that will reap full benefits of the Generalised System of Preferences (GSP) Plus scheme,” he said in a statement on Monday.

“Undoubtedly, it is the best policy under the present economic circumstances,” he remarked.

However, he stressed the need for implementing the policy in letter and spirit if the required targets are to be achieved including a 100% increase in value addition from $1 billion per million bales to $2 billion per million bales in the next five years.

Other targets are doubling textile exports from the current $13 billion to $26 billion, facilitating an additional investment of $5 billion in machinery and technology and facilitating the creation of three million new jobs through internships in large textile units.

Bilwani strongly felt that the policy, amendments and additions whenever required, would surely make the textile industry vibrant and help in achieving the desired targets.

On behalf of the value-added textile industry, he expressed gratitude to the prime minister, finance minister, commerce minister, Planning Commission and especially Textile Industry Minister Abbas Khan Afridi for efforts for the formulation and approval of the Textile Policy 2014-19 in the best interests of exports.

Published in The Express Tribune, February 10^th,  2015.

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