Textile sector receives Rs 44.5 billion under PM’s package

ISLAMABAD: The ministry of textiles has so far paid Rs 44.5 billion to the local textile industry under Prime Minister’s Exports Enhancement Package since July 2017, with an objective to help boost exports from the country, senior official in the ministry told APP here on Thursday.

During the last 10 months, the ministry paid Rs 20 billion to the textiles industry, while it intends to pay more Rs 6 billion in the coming month of July, the official said.

During the upcoming year, the government would pay further Rs 30 billion to the textile sector for value addition, which the official said would boost the country’s external trade.

The Exports Enhancement Package was aimed at bridging the gap between exports and imports by encouraging the export-oriented industry and incentivizing the industrial sector for introducing the innovative, modern and cost cutting technologies, particularly in the textile industry.