Easing import rules on machinery boosts textile sector

Prime Minister’s advisor on textile affairs, Mirza Ikhtiar Baig, lauded foreign investor’s role in the development of its textile industry.

Inaugurating the Italian Textile Technology Seminar, organized by Italian Trade Commission - Pakistan, he said that the Italian textile machineries were contributing in a very big way. Italy is the 5th largest exporter of textile machineries to Pakistan with 10.11 percent share after China (22.7%), Japan (19.55%), Germany (18.22%) and Switzerland (14.9%).

Pakistan government’s decision to withdraw duties on imported textile machineries under National Textile Strategy 2009-2014, has proved to be a big boost for its textile industry. After this decision, the country has registered a thumping growth rate of 25 percent in textile exports. It also helped to attract higher foreign investments in the country, he informed.

Introduction of BMR brought in investments of US $5 billion in to the textile sector, while IGATEX and Textile Asia were successful events. All these initiatives have been proved fruitful and equally rewarding to the industry, he added by saying.

Read more on Easing import rules on machinery boosts textile sector @ Fibre2fashion

Posted in: fibre2fashion,Italian Textile Technology Seminar,Mirza Ikhtiar Baig,textile affairs,textile machineries