Implementation of Textile Policy: finance releases Rs 7.5 billion grant to Textile Ministry

Ministry of Finance has released Rs 7.5 billion as technical supplementary grant to the Ministry of Textile Industry to meet the textile policy implementation requirements, it is learnt reliably. The schedule of technical supplementary grant duly verified by the Dimensional Funds Advisory (DFA) Ministry of Textile has been forwarded to Accountant General of Pakistan, informed sources in the Textile Ministry revealed to Business Recorder here on Tuesday.
They further said that the ministry had demanded Rs 46 billion, however due to financial crunch the government released only Rs 7.5 billion to the ministry. Textile Ministry has requested the State Bank of Pakistan to disburse Rs 4625 million against the following schemes of this Ministry as per given break up, export finance mark up rate facility, Rs 282 million, drawback of local taxes and levies, Rs 3,000 million, mark up rate support, Rs 18 million, magnetisation of PTA, Rs 800 million, support for increased employment of women, Rs 25 million and technology up-gradation fund scheme Rs 500 million. The ministry would further issue instruction for disbursement of the remaining Rs 2.875 billion latter, sources added.