Expecting Louis Vuitton from a shoestring budget?

Shehzad Salim Central Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) said the Ministry of Textile Industry had requested a budgetary allocation of Rs 42 billion for the next fiscal year 2012-13 from the Finance Ministry.
Even if this amount is sanctioned, Rs28 billion would go towards payment of outstanding claims of the exporters against various schemes (DLTL, R&D, etc.) leaving only Rs 14 billion for the development and up-gradation works of the textile sector.
Salim said in last budget, the textile ministry had asked for approximately Rs30 to Rs 35 billion out of which only Rs 7.5 billion were allocated and only Rs 6 billion were paid, the balance amount has lapsed.
The PREGMEA chief pointed out that relief to the textile sector means relief to the people of Pakistan as the textile sector employs 38%, 16.5 million, of country’s total workforce. Out of this, the garment industry employs around 6 million people. If relief is provided to this sector, it will result in more job creation for the poor unskilled workers.
Salim dispelled the impression that money allocated for the textile sector goes into the pockets of industrialists, instead he said it would directly benefit the workers employed in the sector.
Keeping the factories going is of prime importance as this results in continued employment.
In this regard, he explained that the Ministry of Textile Industry has chalked out several development programs for the sector which will result in up-gradation and modernization of textile machinery, which will help create new jobs. Also, several programs for vocational and technical training have been envisaged, due to which unskilled workers will become skilled workers and earn more for their families.
He expressed hope that the Finance Minister, Dr. Abdul Hafeez Shaikh will provide the required funds to the textile sector as it directly benefits the lower income section of the economy.