Textile units asked to submit expenditure on R&D

The Ministry of Textile Industry has linked the 6% research and development (R & D) support with provision of business completion and the R&D expenditure information from the registered textile units.

The Ministry categorically said that no unit would be provided with 6% R&D assistance unless it provided required information. The Ministry of Textile Industry instructed the all registered textile units to submit the details of their business and expenditures on research and development.

In case of non-compliance the Ministry reserves the right to delete the name of the association or defaulter and may issue instructions to the State Bank of Pakistan not to entertain the R&D claims for further allowing the R&D support facility.

It may be mentioned here that the Ministry of Textile last year announced 5%-6% R&D support on exports to make the textile exports competitive in the international.