Govt props up privatization strategy to develop textiles
29 Jun '06
1 min read
For enhancing textile exports volumes, Pakistan Government is initiating several steps to facilitate the private sector for improving the quality and competitiveness of their products to build a Pakistan brand.
Textile industry is the backbone of our industrial sector, aired Prime Minister Shaukat Aziz.
Cotton yarn sector reflected a growth of 11.6 percent last year while during the past few years, textile sector has shown substantial growth.
Prime Minister enlightened that this was plausible due to the continuity and consistency of government policies, positive macroeconomic indicators, tariff rationalization, removal of sales tax on the textile chain, deregulation, lower interest rates, increased market access, public-private partnership programmes and the creation of a hassle free environment by the government.
He revealed government plans to set up Reconstruction Opportunity Zones (ROZs) as goods manufactured in ROZs will be exported to the US markets on preferential terms.
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