Federal Minister for Textile Industry Abbas Khan Afridi has said that next five-year textile policy for 2014-19 would be announced after June 30, however, its several major points will be incorporated in the upcoming budget.

Addressing a news briefing on Friday after a ‘Consultative Conference on Textile Policy- 2014-19’ at a local hotel, he said that the new textile policy 2014-19 will address genuine concerns of the industry with innovation and extraordinary solutions. He stated that the budget will announce incentives for the garment industry with a view to get benefit of GSP Plus status to Pakistan. The minister said that textile sector was an engine of growth for creating employment and increasing exports and this sector might not be seen for revenue collection only.  The conference was attended by representatives of textile sector including APTMA Punjab chairman SM Tanveer, group leader Gohar Ijaz, PRGMEA chief coordinator Ijaz Khokhar, senior vice chairman north zone Jawwad Ch and several other industry representatives.

He said that value-addition was supported by all associations because if we are earning $3 then with value addition can be earned up to $25. Afridi said that there were investors in the country who wanted to invest in textile sector that is why we wanted to give this opportunity to them instead of foreigners. Earlier, during ‘Consultative Conference’, the stakeholders discussed various issues relating to energy, product diversification, encouraging investment, trainings and improved factory floor management.  Major focus was on solving day to day problems faced by the industry and inconsistent government policies, especially with regard to sales tax and refund scheme.  They supported the ministry’s goal of doubling the rate of value addition which is currently at conversion of one million bales into $ 1 billion. They unanimously demanded that the textile sector should be exempted from sales tax as the system of refunds was riddled with corruption.