Federal Minister for Textile Industry Rana Farooq Saeed Khan said the government is spending huge sums on textile export promotion besides ensuring unhindered power supply to achieve export target of $25 billion in next five years.

Addressing a post-Textile Policy press conference, the Minister said the textile sector would be excluded from load management of electricity/gas. About increase in cotton crop, the minister said the government is introducing Bt cotton and claimed that India's cotton production doubled through application of new cottonseed and best cotton growers would be provided premium. Measures have been taken in Textile Policy to address the problems hindering the growth of textile sector and government, through this policy, has provided incentives to investors and taken measures to resolve energy and other problems.

Under Restructuring and reorganization of the Textile Sector Scheme, those textiles units which are suffering from the general market slump but are otherwise technically viable would be helped through transitional support - in the form of loan restructuring, interest rate relief, relaxation of prudential regulations, additional financing, investment tax credit, etc.

Secretary Textile Industry Dr Waqar Masood said after coming into force of Reconstruction Opportunities Zones (ROZs), textile export to the US would be increased. He hoped that Pakistan would be able to get access to the US market through ROZs, for which some legislation is required in the US. About tariff rationalization for textile sector, the secretary said the Ministry was in touch with the Federal Board of Revenue (FBR) and hoped that from next fiscal year relief would be provided to this sector.