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Related Keywords: BT resistance in cotton bollworms, cotton standardisation system, duty on imported yarn, Faisalabad garment city, Faisalabad garment city training centre, increase raw cotton export, Karachi garment city, monitoring and management, National assembly on textile industry, Pakistan textile city, PSDP bugetary proposal given approval

At the 7th meeting of National Assembly Standing Committee on Textile Industry was held on Monday, PSDP Budgetary proposals worth Rs 69.370 billion was given approval after a detailed discussion for the year 2015-16. Also Faisalabad Garment city phase 2 worth Rs598.5 million, Faisalabad Garment City Training Centre costing Rs60 million, Karachi garment city phase 1, amounting Rs805.119 million, were discussed in detail.

Related Keywords: coal power project, Credit line, development and operational expenses, electricity, financil needs, K-Electric, NBP, Pakistan textile city, sovereign guarantee, utility and infrastructure development, value added textile industries

Pakistan Textile City can avail another Rs 1.16 billion financing from National Bank of Pakistan (NBP) to meet its financial needs, as NBP has increased the credit line against sovereign guarantee. With this approval, overall credit line for Textile City reached Rs 3.16 billion compared to Rs 2 billion previously.

In 2008, a credit line of Rs 2 billion was provided to Textile City but the entire amount has already been consumed during the last couple of years on account of development and operational expenses.

Related Keywords: Pakistan textile city

The federal government has initiated a mega project, Pakistan Textile City, with a vision to develop and operate Pakistan’s first state-of-the art industrial zone near seaport dedicated for the value-added textile sector. The Pakistan Textile City Limited is a public private joint venture company. In order to get maximum benefits from GSP Plus status, much-awaited investment oriented project - Pakistan Textile City – will be launched in the second quarter of this calendar year.