Govt pays Rs62bn to textile sector under PM exports enhance package

The government has so far paid Rs 62.5 billion to the local textile industry under Prime Minister’s Exports Enhancement Package since July 2017, to help boost exports from the country, senior official in the ministry of textiles and industry told APP here on Tuesday.

During the last 10 months, the ministry paid Rs 20.5 billion to the textiles industry while it intends to pay more incentive in the coming month, the official said.

During the upcoming year, the government would pay further Rs 40 billion to the textile sector for value addition, which the official said would boost country’s external trade.

The Exports Enhancement Package was aimed at bridging gap between exports and imports by encouraging the export oriented industry and incentivizing the industrial sector for introducing the innovative, modern and cost cutting technologies, particularly in the textile industry.

Replying to a question, he said that so far State Bank of Pakistan (SBP) has received the Rs 27 billion refund claims under the package, which he said would be processed accordingly.

He said in last seven months, the government had paid Rs 62 billion in terms of outstanding claims, adding that pending liabilities of Rs 20 billion would be paid off in coming months.

“The government is committed for the execution of PM export enhancement package for development and growth of the textiles sector for increasing country’s export,” the official added.

He further said that increasing the country’s exports and creating job opportunities for the people were the top most priorities of the government.

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