Textile sector seeks more R&D funds despite falling exports

Despite the injection of over Rs. 24 billion in R&D to the textile sector for enhancing dwindling exports, the textile sector still needs even more cash injections, said Caretaker Minister for Commerce and Textile, Shahzada Alam Manoo.

He said the textile sector at present is exporting at a total loss, as the global scenario is not in favour of Pakistani exporters. Having no justification for more R&D, the Minister said, the textile sector, holding a major share in exports, was con tributing since independence, but is currently facing hard times competing in the present. The Minister frankly admitted that no benefit of R&D has so far been reaped by the textile sector; statistics of textile exports for the first five months are average, however, the sector contributes nearly 70%to local consumers.