Government has decided to disclose a determined Textile and Apparel policy (2020-2025) burdened with money grants and lower charges on utilities worth Rs 960 billion to hype up the production and exports of value added textile products.
The following policy will help to boost the textile and clothing exports to a minimum of $15.7 bn to a maximum of $20.8 bn by the end of year 2025.
Moreover the policy will be bringing in domestic and foreign investments in the textiles value chains and value added sectors, with a primary focus on small and medium sized business(SMEs). However the Benefits are only focused on minimising the costs of doing business rather then expanding or enhancing the production lines.
Furthermore a brand development fund will be established besides renewing Pakistan textile city Ltd (PTCL) and Karachi Garment City Ltd (KGCL). Special Economic Zone (SEZ) title will be designated to PTCL and KGCC as well.
Pakistan’s First ever E-Commerce policy is also under implementation, which will allow all the textile businesses to go big, and earn business opportunities across the globe, First initiative has already been taken as amazon has started registering pakistani Exporters and manufacturers.