The ministry of textiles has paid Rs52.5 billion to the textile industry under
the Prime Minister’s exports enhancement package since July 2017 to help
boost exports, a senior official told APP.
The ministry paid Rs10.5 billion to the textile industry during the last 10
months, while it intends to pay more than Rs10 billion during the couple of
days, the official said.
The government would further pay Rs40 billion to the textile industry for
value addition, which the official said would boost the country’s external
trade.
The exports enhancement package aims at bridging gap between exports and
imports by encouraging the export-oriented industry and incentivising the
industrial sector for introducing innovative, modern and cost-cutting
technologies, particularly in the textile industry. The official said the State
Bank of Pakistan has so far received Rs26 billion refund claims under the
package in last seven months, which he said would be processed accordingly.
The government paid Rs52.5 billion in terms of outstanding claims, while the
pending liabilities of Rs20 billion would be paid off in coming months.
Source: The Pakistan Today, Pakistan Wednesday, 15 May 2019