Pakistan Intends To Subsidize Textile Industry.

Pakistan's News reported that the cabinet Economic Coordination Committee, chaired by Prime Minister Gilani, was scheduled to be approved in September 10th to provide 12 billion rupees research and development subsidies to the textile industry to get rid of the declining trend of the industry.

In the fiscal year 2007/08, the textile industry received a total of 32 billion rupee government subsidies, but it still performed poorly.

Total exports amounted to US $19 billion 223 million, of which 10 billion 561 million US dollars in textile exports, down 2.1% from the same period last year.