Report by Engineering Post
The federal government is finalizing a comprehensive Textiles & Apparel Policy and also National Industrial Policy for next five years each.
The sole objective behind formulating these policies is to make Pakistan’s industry regionally competitive, remove trade barriers and ensure sustained export growth of the country.
The Textiles and Apparel Policy, according to the reports, will focus on reducing manufacturing costs, improving resource productivity, optimizing processes, promoting research and development, diversifying products and imarkets ,and increasing Pakistan’s share in global exports.
The new National Industrial Policy will cover a broader industrial landscape beyond a few sectors and include areas such as energy, tariffs and taxation, financing and economic zones. The new policy so being formulated at the appropriate levels and in consultation with the stakeholders will also incorporate facilitation for green field projects, land-lease models under public-private partnerships, and a one window model for investor facilitation.
It was not immediately known from the official quarters concerned as to when both of these policies are expected to be launched after being duly considered and approved by the federal cabinet.
