ISLAMABAD – Advisor to Prime Minister for Commerce and Investment Abdul Razak Dawood revealed on Thursday that massive investment of $5 billion from investors is being planned for the country’s textile industry.
Taking to Twitter, Dawood said: “Our Make-in-Pakistan policy is beginning to show results”.
“We have been informed that an investment of approximately USD 5 Billion is in the pipeline under which 100 new textile units are expected to be established,” he added.
The advisor said that the fresh investment would enhance Pakistan’s export capacity, as well create 500,000 jobs.
these are likely to create about 500,000 Jobs. This government has reversed the de-industrialisation and Insha’Allah, we are now on a path of industrial growth in Pakistan.
🇵🇰 @aliya_hamza @mincompk @investinpak #Pakistan #PakistanMovingForward #textiles #industry
— Abdul Razak Dawood (@razak_dawood) October 7, 2021
‘This government has reversed the de-industrialisation and Insha’Allah, we are now on a path of industrial growth in Pakistan,” he concluding without sharing details about the investors.
Earlier this month, he shared provisional figures for export of goods in September 2021.
“Our exports have increased by 27.4% in Sep 2021 to USD 2.41 billion as compared to USD 1.89 billion in Sep 2020,” he added.
Read more: https://pakobserver.net/pakistani-startups-raise-record-305-million-in-9-months-of-2021/
For the first Quarter (Q1) of FY 2021-22, the exports have increased by 28% to $6.99 billion as compared to $5.47 million in Q1 of FY2020-21.
“This has been due to hard work of our exporters & they deserve praise for this accomplishment,” he said, adding that the import figures are being analysed in consultation with other government departments and would be released shortly.
Read more: https://pakobserver.net/leading-knitting-and-apparel-manufacturer-to-invest-300-million-in-pakistan/
