Since textile and apparel companies in China and India enjoy preferential policies, the Pakistani government provides a 3% interest subsidy for spinning companies for 2 years.
Recently, the Minister of Textiles of Pakistan announced in a statement that the preferential period will start from July 1, 2007 and end on June 30, 2009. Subsidy funds before December 2008 will be paid in March 2009. , the 2009 subsidy funds will be paid in July 2009.
The Pakistani government has allocated 1.7 billion rupees for the 3% interest subsidy, which has been deposited in the Central Bank of Pakistan, and has also provided 4 billion rupees in research and development funds.
