All Pakistan Textile Processing Mills Association, (APTPMA) has hailed the textile policy 2020-25 as being textile-friendly, investment-friendly, and export-oriented. The association opines that the policy will help domestic and export industry byreducing production costs.
The policy proposes to provide electricity at 7.5 cents instead of 9 cent for the textile sector, followed by RLNG at $6.5 per mmbtu and domestic produced gas at Rs786 per mmbtu. It aims to reduce the input cost of textile and clothing sector and make it competitive with the regional players.
The proposed package carries special duty-drawback rates, rationalisation of duty on textile value chain and subsidy on long-term loans and development subsidies. The focus of the policy is to enhance the productivity and competitiveness of the textile sectors.
The APTPMA office-bearers said that prior to its final approval by the cabinet it must be ensured that incentives/relief being announced in the policy should cover all indirect and direct exporters and we assures the government that implementation of the textile policy in letter and spirit will ensure the doubling of textile exports from $ 13 billion to $ 26 billion in next five years.
