$5bn investment for textile sector in pipeline: Dawood

Commerce advisor says 100 new textile units to create 0.5m new jobs

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Thursday announced that investment worth $5 billion is in the pipeline for the establishment of new textile units.

Highlighting the positive outcome of the “Make-in-Pakistan” policy, Dawood wrote on Twitter: “Our Make-in-Pakistan policy is beginning to show results. We have been informed that an investment of approximately $5 billion is in the pipeline under which 100 new textile units are expected to be established”.

The advisor said that apart from enhancing export capacity, these (new units) were likely to create about 500,000 jobs.

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He said the incumbent government had reversed the de-industrialisation and, they were now on a path of industrial growth in Pakistan.

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

Under the policy, the government had eliminated or reduced duties on hundreds of tariff lines involving raw material for the local industry to make domestic products competitive.

Earlier on Wednesday, the commerce advisor had appreciated the response received for the pavilion at Dubai Expo 2020.

“Having received a tremendously encouraging response to our launch for Pavilion at Expo 2020, I would like to thank all the visitors for coming to the Pakistan Pavilion and showing their interest in our culture and appreciating its richness and diversity,” he said, inviting participants to “connect again on October 9 to celebrate art, culture, diversity, and food.”

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