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Pakistan:Export Development Fund approves 25%
freight subsidy for leather garments |
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2005-1-6
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For the period of January 1 to December 31, 2005, the Board of the Export Development Fund (EDF) has approved a 25 percent freight subsidy on both air and sea shipments of leather garments.
The 39th meeting of the Board of administrators of the Export Development Fund was held with Humayun Akhtar Khan, the Commerce Minister and Secretary Commerce, Tasneem Noorani.
It is estimated that subsidy relief to the leather garment sector would control the declining trend in the export of Pakistani leather garments, says a press release.
For the installation of two Computerized Pattern Making Machines one each at Karachi and Sialkot offices of Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA) costing US$52,050 was approved and funded by the Board.
Currently most of the leather garment exporters are using manual pattern-making methods, which restrict improvement in quality of garments. It was noted that the installation of these machines would boost the exports of leather garments from Pakistan.
Similarly, the Board also approved the installation of two Computerized Embroidery Machines one each at Karachi and Sialkot offices of PLGMEA costing Rs 9.56 million.
Additional amount of Rs 14.1 million was also approved for Fan Development Institute (FDI) at Gujrat.
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