The garment industry on Sunday called for the final approval of new textile policy 2020-25 by the Economic Coordination Committee (ECC) of the Cabinet as it is vital for new investment and marketing plan in this major export-oriented sector.
Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) vice chairman Adeeb Iqbal Sheikh said that Prime Minister Imran Khan has already approved the five-year textile policy for onward submission to the ECC. However, the ministry was unable to oblige due to undisclosed reasons.
He said the government announced several schemes including settlement of outstanding refund claims, rationalization of refund regime, establishment of Exim bank, duty-free import of textile machinery and reduction of mark up rate for export refinance in past but the sector was not getting benefits yet.
