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Investment of $ 5 billion for the textile sector pending: Razak Dawood




Advisor to the Prime Minister for Trade and Investment Abdul Razak Dawood. AFP / FileRazak Dawood reveals that an investment worth $ 5 billion is underway, in which 100 new textile units will be created. during the year 21.

Prime Minister’s Trade and Investment Advisor Abdul Razak Dawood announced on Thursday that an investment worth $ 5 billion was underway for the creation of new textile units.

Highlighting the positive results of the “Make-in-Pakistan” policy, Dawood wrote on Twitter: Our Make-in-Pakistan policy is starting to bear fruit.

We have been informed that an investment of around $ 5 billion is underway in which 100 new textile units are expected to be created, the adviser said.

Sharing further details about the investment, he said: In addition to improving export capacity, these are likely to create around 500,000 jobs.

This government has reversed deindustrialization and InshaAllah, we are now on the path of industrial growth in Pakistan, added the Prime Minister’s assistant.

In August 2020, Prime Minister Imran Khan announced that the government was pursuing a Make-in-Pakistan policy to promote export-oriented industrialization in the country.

As part of this policy, the government had eliminated or reduced tariffs on hundreds of tariff lines involving raw materials for local industry in order to make domestic products competitive.

Historical trends in textile exports. AHL / SBP

According to Pakistan’s Bureau of Statistics, the textile group’s exports topped $ 15 billion, the highest on record in the first two months of any fiscal year in fiscal year 21. The federal government has stepped up to the plate. expects exports to exceed $ 20 billion in FY22.




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