ISLAMABAD: The government will be spending Rs64 billion under the five year export policy on textile sector to enhance its export to $26 billion by 2019.
Sources said that the government was taking measures to enhance textile related exports.
They said that the reduction in interest rate by the State Bank of Pakistan has led to considerable increase in availability of affordable finance for the export sector.
The officials said that technology up gradation fund scheme for the textile sector has been formulated. This scheme will particularly benefit the SMEs to invest in new technologies to make Pakistan’s exports globally competitive.
Besides, the facility of duty free import of textile machinery has been extended for the current financial year.
