All Pakistan Textile Mills Association (APTMA) has appreciated the government for its initiatives to boost Pakistan’s economy. As per a Global Village Space report, the Pakistan government recently approved the Textiles and Apparel Policy (TAP) 2020-25 to double Pakistan’s exports to $42 billion.

According to APTMA, the textile policy will encourage investments in Pakistan. It will create more employment opportunities and develop new markets. On the other hand, the WACOG Bill will bring sustainability to the gas sector. Meanwhile, Pakistan’s continued GSP status improved the country’s exports levels.

As per Abdul Razak Dawood, Advisor to the PM,the policy gives Pakistan’s textile industry internationally competitive electricity and gas rates. The parliament also passed the amended Weighted Average Cost of Gas (WACOG) Bill to ensure Pakistan’s energy security. The bill is expected to improve the pricing structure, remove anomalies and enhance supplies of imported gas.

Moreover, textile units in Pakistan are incurring power and energy costs 2. 4 percentage points more than India and 7.8 percentage points higher than Bangladesh.