Islamabad: Abdul Razak Dawood, the Prime Minister’s Adviser on Commerce and Investment, revealed on Thursday that a $5 billion investment in new textile units is in the works.

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Highlighting the positive outcome of the “Make-in-Pakistan” policy, Dawood wrote on Twitter: “Our Make-in-Pakistan policy is beginning to show results. We have been informed that an investment of approximately $5 billion is in the pipeline under which 100 new textile units are expected to be established”.

Apart from increasing export capacity, these (new plants) are expected to generate around 500,000 jobs, according to the advisor.

He said that the current government had reversed de-industrialisation and that Pakistan was now on a path of industrial growth. Prime Minister Imran Khan said in August 2020 that the government was pursuing a Make-in-Pakistan policy to boost export-oriented industrialization in Pakistan.

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To make domestic products more competitive, the government removed or lowered tariffs on hundreds of tariff lines concerning raw materials for the local sector under the policy. Earlier on Wednesday, the commerce advisor expressed his gratitude for the positive response to the pavilion proposal for Dubai Expo 2020.

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