Pakistan government approves Rs. 185 million for textile sector growth

For the development of textile sector, Pakistan government has approved Rs 185 million under Export Development Fund (EDF)

The meeting of EDF was held under the chairmanship of secretary of Ministry of Textile Industry, which approved various development projects for promotion of textile sector and boost its exports.

As per reports, the allocations of Rs 100 million has been approved for washing facilities in Karachi garments institute, while Rs 75 million was also approved by the EDF for land acquisition of new training institute in Sailkot and was also allocated Rs 10 million for garment training institute in Lahore.

The production of up to 11.2 millions bales of cotton was expected this crop season, as compared to 10 million bales produced in the same period of previous year, he added.

The selling price of cotton seeds was also decreased from Rs 3,200 to Rs 3,000 per 40 kilogrammes in order to encourage farmers to cultivate cotton crops on more land and enhance the cotton production in this season, the official said.

The official further said that the experts and scientists helped in providing training to more than 8,000 farmers to overcome losses of cotton crops and evolved measures against the virus, which harmed the cotton crops in the past.

This year farmers were likely to get good prices for the cotton crop, as the increased cotton prices in international market would benefit farmers, as compared to previous years when they suffered huge financial losses, he added.

However, the government had set 14.1 million bales of cotton for this year, which had to be revised, as some of the growers in cotton producing areas opted to cultivate sugarcane crop, the official said.