Incentives to be given to textile sector: Abbas Afridi

LAHORE: Federal Minister for Textile and Industry Abbas Khan Afridi has said incentives will be given to value added textile sector in textile policy 2014-19.

Addressing a press conference here on Friday, he said after getting incentives it was a responsibility of all textile stakeholders to use them in optimum way.

The minister said he would soon arrange a meeting of textile stakeholders with the state minister of Water and Power in which electricity related problems of the textile sector would be discussed.

The minister said textile industry was an engine of growth for creating employment and increasing exports adding there was a need to work collectively for overcoming problems.

He said: “The country is enriched with natural resources and we all should utilise our potential in the best way.”

An improvement of value added sector would also help in dealing with unemployment, he added.

Responding a question, he said a MOU would be signed with China soon aimed at boosting production of cotton in the country.

Earlier, the ministry of textile held consultative meeting with textile industry stakeholders.

The meeting discussed options to add value to the different sub-sectors of the textile supply chain and to think about schemes to maximize and utilize new technology and machinery in the industry, introduce more product lines and work on market diversification.

The textile industry stakeholders also discussed issues relating to energy and encouraging investments.

They unanimously demanded that textile industry should be exempted from sales tax.