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Friday, March 29, 2024

Trade enhancement Package: Rs. 162 billion for the textiles sector

Rs.162 billion for the modernization and development of textile sector was a big achievement for Ministry of Textile in years 2016. The sector got Rs.162 billion from Rs.180 billion the “Trade Enhancement Package” announced by Prime Minister Muhammad Nawaz Sharif. The package is for the coming 18 months starting from January 2017 to June 2018. “The purpose of this package is to enhance the exports of the country,” said so was by APP.

The officials also mentioned that the government has decided to offer drawback on duties in garment sector for about 7%, process fabric with 5%, and made-up with 6% in the coming 18 months. In addition, the government gives a relaxation on the import of textile machinery in order to modernize and enhance the capacity of a textile sector of Pakistan. This package will be of great help to decrease the cost of business and as a result will enhance the business activities. The government has also announced 16 new varieties of cotton to enhance the production and growth of the textile sector in Pakistan. The Ministry has also started a training program for the cotton grower to educate them well about pest control management and crop management, as this will surely have an impact on the production of the crop.

About 5,000 progressive workers and farmers from field extension and provincial agricultural department had trained in the initial phase. Further, it was told that the ministry has already trained about 5,000 cotton farmers to deal with climatic changes and pink bollworm attack control. The cotton production target was revised to 11.272 million bales for current sowing season as against the set targets of 14.5 million bales for the last crop season (2016-17). This season the expect cotton production was 10.5 million as compared to 9.07 million bales produced in the last session.

In the first stage about 500 master trainers from agriculture departments and ginners association would be trained. In the next step, they will train the cotton growers across the country and make sure they are capable of dealing with any kind of outbreak of pest or any other insect. In the first stage, about 10,000 farmers are trained the pest management. This kind of training will surely help them to deal with the pest attack and reduce the risk of damage to the crop, resulting in higher end results.
 
As a review of the meeting, the experts in the meeting agreed on the legislation to improve the cotton yield and in this way cotton will remain the prime contributor to the economy of Pakistan. Further, it was told that the project development and innovation wing of the ministry of Pakistan have also initiated a number of projects to bring more innovation in the textile industry. In this manner, 1000 stitching units are planned to be established in all districts of the country.

At the same time, a small incubator industry is also proposed for the development of public sector 2017-17. The purpose of this step is to persuade the upcoming entrepreneurs from Vietnam and Malaysia. At the same time, the government of Pakistan has focused on providing an uninterrupted electricity and gas to the textile sector that will surely work as a huge support to the growth and sustainability of the industry and the country at the same time. A complete report on the package is included in the reports section of the magazine.

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