Govt mulls subsidy on furnace oil, power for textile industrialists

[Naveed Yaseen]

ISLAMABAD: Minister for Textile Industry Rana Muhammad Farooq Saeed Khan on Thursday informed the Upper House of parliament that the government is mulling over providing subsidy on furnace oil and electricity for the textile industry.

Replying to various questions during the question-hour session, he said that the government for the first time in the country’s history introduced a textile policy, adding that implementation has started from August 30.

He said that 471 spinning and 50 weaving units were set up in the country. A total of 102 units were closed, out of which 15 units closed during 2008-09 as per record, he added.

The minister said these units were closed due to a depressed global market, non-supply of electricity/electricity breakdown and increased rate of diesel and furnace oil resulting in high cost of electricity generation. Replying to a question, he said that the government would provide all facilities if the textile industry is set up in FATA.

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