Govt to introduce Textile Policy 2020-25 this week
- By Web Desk -
- Dec 01, 2020
ISLAMABAD: The federal government is all set to announce the Textile Policy 2020-25 during the current week, ARY News reported on Tuesday, citing sources.
The export target has been fixed at $20 billion in the new Textile Policy, which has been finalised after consultation with all the stakeholders.
Under the proposed textile policy, the electricity tariff will be at 7.5 cent per unit while duties at the Gas, water, and others will be reduced to boost the sector, said the well-informed sources within the Textile ministry.
The proposed policy will help in boosting employment opportunities for millions of people. Meanwhile, the All Pakistan Textile Mills Association has welcomed the proposed Textile Policy of the federal government and pinned hope that this will put the economy on track.
It is to be noted that Prime Minister Imran Khan has approved the Textile Policy 2020-25 last week.
Read more: Faisalabad textile industry seeing massive rise in export orders: PM
On November 19, Prime Minister Khan had directed the authorities concerned to resolve the problems facing the textile industry in Faisalabad at the earliest.
Talking to a delegation of business representatives and exporters associated with the textile industry in Faisalabad, he had directed Minister for Industries and Production Hammad Azhar to consult with all the stakeholders about setting up of an Expo Center in the city.