The new Textile Policy is being announced today after its formal approval by the Federal Cabinet. Sources said that the textile export target is likely to be put at US$25 billion for the next five years. Federal Minister for Textile Rana Muhammad Farooq will announce the textile policy. The textile export target for the current financial year is US$12 billion, for the next year US$13 billion while in next fire years US$25 billion. It is likely that duty on the import of textile machinery, equipment and technology would be eliminated. The trade diplomacy in the quota system with Europe will be made active. A project of pollution free cotton production will be started. Sources said that a Textile Support Fund will be established under which concession be given on the loans mark-up.
