Home Textile New textile policy to be announced before budget 2019-20

New textile policy to be announced before budget 2019-20

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Dr Salaman Shah, Chairman Textile Policy Task Force at TEXPO 2019 said that a new textile policy will be announced before the 2019-20 budget.

The seminar was addressed by Dr Shahid Najam; Vice Chairman SJB Institute of Public Policy, Mr Khalid Sherdil; CEO Urban Unit, Mr Thias R.V. Lobo; Trade Development Officer Brazil and Dr Azam Chaudhry; Professor & Dean Lahore School of Economics.

He said that for the finalization of textile policy the government has constituted three committees which will present its report from manufacturing to exports till next month. He said the government is formulating the policy for the coming five years.

He added that keeping in mind the importance of export of textile in economy of the country, the government is formulating a policy to increase the Pakistan’s share in world export from 1.7 percent to 10 percent. He said Pakistan is a cotton producing country and it should take benefit of this.

Dr Shah said, “The textile sector in Pakistan has an overwhelming impact on the economy, contributing 57% to the country’s exports. In today’s highly competitive global environment, the textile sector needs to upgrade its supply chain, improve productivity, and maximize value-addition to be able to survive.”

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