Knitwear industry is likely to receive 6 percent incentives during next FY for research and development, says Mushtaq Ali Cheema, Minister for Textile Industry.
Government was aware of the problems faced by the country's knitwear industry since the ending of textile quotas, and an action plan was underway to resolve their issues, Cheema said.
A committee will prepare a comprehensive action plan for development of knitwear industry, he quoted on a local televison channel.
Steps mooted for development of the knitwear industry are:
* Smooth refund of sales tax * Affordable land for knitwear industry in the textile and garment city projects where other infrastructural facilities are available at competitive price * Export Promotion Bureau (EPB) should introduce a market access programme for ASEAN, China, Japan, Korea and OIC markets, besides exploring the US and EU markets.
marketing@alchempro.com
