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KARACHI, Jan 2 Asia Pulse - Despite a lack of finances from the banking sector, over the past three years textile industry entrepreneurs have invested around US$1.4 billion in the upgrading and expansion of their production lines to face the upcoming global challenges of quota-free trade by the year 2005.
As a part of long term strategic plan for the textile industry (Textile Vision 2005) an investment of Rs333 billion ($6 billion) was proposed for BMR of the textile industry. Of this investment, at least 60 per cent was expected to be financed by the banks. Unfortunately, the banking sector did contribute its share of financing and the industry had to make the entire BMR funding from its own resources.
This approach has allowed the textile industry to shed its reliance on official patronage, and move towards ...
Source: HighBeam Research, US$1.4 BLN INVESTED IN PAKISTAN'S TEXTILE INDUSTRY.