A high-level meeting approved the draft textile policy and hoped it would be tabled for discussion next time the Economic Coordination Committee (ECC) in convened.
The meeting, between Federal Minister for Textile Abbas Khan Afridi and textile stakeholders, discussed proposals forwarded by the Ministry of Planning, Development and Reforms and incorporated them in the draft policy.
On Oct 30, the ECC discussed the draft textile policy in detail and sought improvements in various proposals given in the draft.
The representative from the planning ministry presented mainly three nominal changes in the policy — skill development in two phases; cash finance scheme announced in the budget to be removed from the policy; and sector specific recommendations.
The textile policy 2014-19 aims to double value-addition from $1bn a million bales to $2bn in five years, double textile exports from $13bn to $26bn, and facilitate investment of an additional $5bn in machinery and technology.
