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Related Keywords: boost exports, create employment, double export, economic revival, facilitate industry, formulate comprehensive, long term policy, Pakistan textile sector, textile policy, to enhance capacity, top priority, value addition

The Pakistan government has put value addition in textile sector on top priority to double the exports in the sector for the economic revival of country for which there is a need to formulate a comprehensive and long-term policy. As both the government and industry were committed to fully exploiting the potential of all related sectors of textile aiming at to boost its exports for benefit of the country.

A meeting of Federal Textile Board (FTB), Pakistan will be held soon to discuss the issues being faced by textile industrialists and the ministry to addresses these issues.

Related Keywords: Abbas Khan, approved by ECC, boost economy, boost exports, create employment, double textile exports, Export Refinance Scheme, focus on value added products, Long-Term Financing Facility, Pakistan textile and clothing sector, production chain, resolve energy crisis, Textile Minister

The Pakistan textile industry finally gets its new Textile Policy 2014-19 as the Economic Coordination Committee of the Cabinet (ECC) gives approval. Announcing the new textile, the Textile Minister, Abbas Khan on Monday said that an amount of Rs 64.15 billion was proposed for next five years against the allocation of Rs 188 billion for the last textile policy 2009-14. This is help boost country’s exports of textile and clothing sector to $26 billion by 2019 from $13 billion.

Related Keywords: boost exports, Cotton fibre, demanding abolish excise duty, domestic textile market, growing global market, India largest man-made Fibres producer, Indian synthetic fibre and yarn producers, Make in India initiative, man-mae fibres, MMF textile consitutes

India is one of the largest producer of man-made Fibres in the world with presence of large plants having state-of-the art technology. MMF textiles constitute almost two-third of the domestic textile market. Indian synthetic fibre and yarn producers demanding to abolish high Excise Duty of 12 per cent on the industry and bring it at par with the Cotton fibre and yarn which has zero duty for growth of the Indian textile industry and for achieving a larger share of the growing global market.