All Pakistan Textile Manufacturers Association Chairman SM Tanveer has lamented the inordinate delay in the notification issuance for Technology Up-gradation Fund Scheme (TUFS), hindering the industry from undertaking BMR and fresh investment initiatives for the textile Industry.
LAHORE: According to Tanveer, the federal government has withheld the notifications of initiatives under the Textile Policy 2014-19, to avail the terms of TUFS.
He said the textile industry has already lagged behind the region on the front of technology and machinery up-gradation.
Consequently, serious structural imbalances have occurred across the textile value chain, as 25% of the basic textile worth $4 billion is being exported annually without converting into garments due to the non-existence of backward and forward linkages to add value up to $15 billion exports, said the APTMA chief.
Published in The Express Tribune, April 1st, 2015.
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