Web Exclusive | October 2016
Pak approves Rs 185 mn for textile sector
The Government of Pakistan has approved Rs 185 million under the Export Development Fund (EDF) for development projects to boost exports and develop the textile sector. The projects include garment institutes in Karachi and Lahore, and a new training institute in Sialkot.
Of the Rs 185 million, Rs 100 million will be spent for installing washing facilities at a Karachi-based garment institute, while another Rs 75 million would be utilised for land acquisition for a new training institute in Sialkot. Another Rs 10 million has been set aside for a garment institute in Lahore. The Government has also reduced the selling price of cotton seeds from Rs 3,200 per 40 kg to Rs 3,000 per 40 kg. This has been done to encourage farmers to grow more cotton this season.