Islamabad: February 9th  , 2011

Federal Minister for Textile Industry, Rana M. Farooq Saeed Khan said that implementation of Textile Policy devised in 2009 was steering the textile sector in right direction as it can be seen by the sustained growth in textile exports for the last two years. The minister said this after announcing the release of funds to the tune of Rs.1.61 billion against various textile policy support schemes. Mr. Farooq also said that the timely release of funds by his ministry was proving helpful in supporting various textile initiatives.

It may be noted that the textile ministry has previously released Rs.4825.00 million against various support schemes out of original allocation of Rs.7.5 billion. Moreover, a request has been sent to SBP (State Bank of Pakistan) to immediately disburse the released funds. Instructions regarding the remaining amount of Rs.1.065 billion out of total Rs.7.5 billion will be issued later on.

“Textile Ministry under the visionary leadership of President Asif Ali Zardari will keep on working sincerely for the sustained expansion and growth of Textile sector”, added the minister.



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