A Textile Act has been proposed to be framed, under which only those companies registered with the Federal Ministry of Textiles, will be eligible to receive incentives under the textile policy, which was announced earlier in the year.
The details of the proposed Textile Act will be shared with the textile sector in the next meeting of the committee, as per a decision taken by the Textile Policy Implementation Liaison Committee at its second sitting held yesterday.
Members of the committee discussed various issues with regards to the implementation of the Textile Policy. Ideas and views were shared and different suggestions and recommendations were given by the committee members during the meeting.
The Committee was also informed about the registration process related to yarn export contracts and it was decided to convene a separate meeting, to discuss the issues relating to yarn exports and difficulties faced by the stakeholders.
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