EDF okays Rs185m for promotion of textile ISLAMABAD: The government has approved Rs185 million under the Export Development Fund (EDF) for the promotion of the textile sector.
In a recent meeting of the EDF, the Ministry of Textile Industry secretary approved various development projects to boost exports and develop the textile sector.
Talking to APP, a senior official of the Ministry of Textile Industry said Rs100m has been allocated for washing facilities at a Karachi-based garments institute.
About Rs75m has been approved for land acquisition for a new training institute in Sialkot while Rs10m is set aside for a garments institute in Lahore, the official added.
He said up to 11.2m bales of cotton are expected in this crop season as opposed to 10m bales produced in the same period of the preceding year.
He said the selling price of cotton seeds has also been reduced from Rs3,200 to Rs3,000 per 40 kilograms in order to encourage farmers to enhance the cotton production in this season.
The senior official said experts and scientists have trained more than 8,000 farmers to minimise cotton crop losses and evolved measures to fight viruses.
He said farmers are likely to get good prices for the cotton crop this year, as the cotton price in the international market has gone up compared to the last year’s level.
However, he said the government had set the target of 14.1m bales of cotton for this year, but it revised it because some growers in the cotton-producing areas opted for the sugarcane crop.