Islamabad (GNP): Federal Minister for Commerce Jam Kamal Khan has announced that the Ministry of Commerce has approved Rs10 billion in funding for the textile and apparel sector, along with other export industries, under the Duty Drawback and Technology Upgradation schemes — a move aimed at improving liquidity for industry and supporting export growth.
Announcing the news, the Minister said the Ministry of Commerce had sanctioned Rs10,000 million for textiles, apparel, and other export sectors through these two schemes, adding that he hoped the funding would ease liquidity pressures on industry and help exporters boost their output.
The funds are expected to give export-focused industries much-needed financial breathing room while helping them modernize their technology — improvements officials say should make Pakistani exporters more competitive and better positioned in global markets.
Separately, a Joint Trade Committee session was co-chaired by Minister Jam Kamal Khan and Iran’s Minister for Industry, Mines and Trade, Dr. Mohammad Atabak. The two sides held in-depth talks on expanding trade and economic ties between the two countries, reaching a number of important agreements across several sectors. They also agreed on a broad plan to tackle challenges facing the business communities in both nations.
The funding announcement is part of the government’s ongoing efforts to strengthen Pakistan’s export industries, support local businesses, and build a more favorable environment for long-term export growth.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Iran Chamber of Commerce, Industries, Mines and Agriculture have signed a Memorandum of Understanding to enhance bilateral trade and economic cooperation between the two countries.
The agreement was signed in Islamabad during the closing ceremony of the 10th session of the Pakistan Iran Joint Trade Committee.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
