ISLAMABAD (APP): The Senate Standing Committee on Commerce and Textile industry on Wednesday stressed the need to evolve comprehensive strategy for achieving the vision based milestones to enhance textile trade in the country.
The Committee meeting was held under the chairmanship of Senator Syed Shibli Faraz for briefing by textile division with special focuses on current issues and challenges here in Parliament house.
Federal Minister for commerce and textile industry informed the committee, “We want to revive the confidence of the textile sector through ‘Trade Enhancement Package’ amounting to Rs162 billion for the textile industry, announced by former Prime Minister.”
Pervaiz Malik said that the refunds payments through PM “Trade Enhancement Package” would pays to the industry according to defines criteria in due dates.
In briefing to the committee, Senior official of Commerce Ministry, informed the committee that after the execution of trade enhancement package the ministry introduce the zero rating for textile sector.
He said that now uninterrupted energy supplies to the textile sector provided and no complain received from any side.
He said the ministry is fully committed to execute the textile policy, 2014-19 for providing relief and ease of doing business to the industry.
Senior official informed the committee that Rs. 946 million was allocated in Public Sector Development Program (PSDP) 2017-18 for three different projects in textile sector.
“We should follow the modern trade pattern and the emerging market trends for value addition and innovation in local market to enhance the textiles exports,” said chairman of the committee Senator Syed Shibli Faraz. Shibli Faraz said that research based strategy need for enhance the exports in textiles.
Senator Ilyas Ahmad Bilour, Senator Muhammad Usman Khan Kakar, State Minister for Commerce and textiles and official of textile industry was attended the meeting.
