Pakistan’s textile sector to witness $5 billion investment to build new textile units

This is part of the government's "Made-In-Pakistan" policy.

Employees work in a textile factory in Pakistan.
Employees work in a textile factory in Pakistan.

The textile sector of Pakistan will soon witness the pumping of an investment worth $5 billion (around ₨. 1.7 kharab) to establish new textile units.

This news was revealed by the Advisor to the Prime Minister on Commerce, Industries and Production and Investment, Abdul Razak Dawood, in a statement on Thursday.

A view of the interior of a textile factory.
A view of the interior of a textile factory.

According to details, an investment worth a whopping $5 billion is in the pipeline, under which around a hundred new textile mills are set to be established.

The new textile mills would play a vital role in bolstering Pakistan’s export capacity and jointly decreasing the unemployment rate by paving the way for 50,000 new jobs.

Abdul Razak remarked that these recent developments represent the bearing of fruit of the government’s “Make-In-Pakistan” policy.

Last year in August, the Prime Minister, Imran Khan, declared that the government is pursuing the “Make-In-Pakistan” policy to encourage local production and boost domestic manufacturing.

The "Made-In-Pakistan" policy was announced by the Prime Minister, Imran Khan, in August 2020. The policy aims to boost domestic production and decrease reliance on imports.
The “Made-In-Pakistan” policy has been in pursuance by the authorities since it was announced by the Prime Minister, Imran Khan, in August 2020. The healthy policy aims to boost domestic production and decrease reliance on imports. The policy would also pave the way for high-value exports.

This healthy and sustainable policy counters bulky reliance on imports, eases the pressure on the country’s external account, and paves a way for the country to manufacture high-quality and high-value products for exporting.

According to the Pakistan Bureau of Statistics (PBS) report earlier this year, the South Asian country’s textile exports are expected to reach a “historic high” by the end of this year.


Read More: Bloomberg: ‘Pakistan And India Both Are Poorer Than Bangladesh.’ Here’s What Pakistan Can Learn From Bangladesh


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