ISLAMABAD - Minister for Commerce Khurram Dastgir said that Ministry of Commerce would fund the project for pointed interventions in the research and innovation projects for textile sector initiated by the National Textile University.
The project that will establish Textile Innovation Center in the University will focus on the global demand for next-era fabric, which include technical and functional fabrics and will provide new initiatives in the field of design and value-addition, he said. The Minister made these remarks while chairing the third meeting of the Federal Textile Board attended by the representatives of associations from all the sectors of textile value chain and concerned ministries.
The Board was informed by the Minister that in order to arrest the recent decline of exports in the sector, the Ministry of Commerce is scheduling a branding and marketing campaign to re-launch Pakistan in the export world with the country’s new and improved credentials. The textile sector will be invited to provide their input in the campaign, which will use the traditional and new media to attract investors and importers to Pakistan.
The Board discussed proposals for the upcoming federal budget and provided its input on tax refunds, energy availability and its pricing, availability of raw materials and machinery. The Board was informed by the Sector that gas is abundantly available all across the country for all industries in the form of RLNG since early March this year.
With regard to the decline in the production of cotton, the Minister convened an inter-ministerial meeting to discuss the proposals for early finalization of the legislations awaiting approval regarding the introduction of high-yielding new seed varieties in Pakistan.
The Minister said that Pakistan Seed Act is already implemented and Plant Breeders Act and Plant Health and Safety Act will be promulgated this year.
The Minister also directed the officials of Ministry of Commerce and Textile to work in collaboration with the FBR and State Bank in order to simplify the procedure for Duty Taxes Remission on Exports (DTRE).