ISLAMABAD: Japan has agreed to provide a grant assistance of Rs700 million to Pakistan for procurement of sophisticated equipment and machinery to enable the National Textile University in Faisalabad to strengthen the foundation of textile industry in the country.

The aid framework under the Economic and Social Development Programme for which notes were exchanged between Japan and Pakistan, will not only enhance educational functions of the national textile university by upgrading the educational environment, but also help boost the country’s exports of value-added products and improve the national economy.

The Ambassador of Japa­n, Matsuda Kuninori, and the Secretary of Economic Affairs Division, Dr Syed Pervaiz Abbas, signed and exchanged the notes at a ceremony here on Thursday.

Under Japan’s economic and social development programme, ring spinning machine, electronic flat knitting machine, carbon fibre rapier looms and other equipment will be provided to the university. Textile is a key industry of Pakistan, occupying almost 60 per cent of its total exports.

According to a recent press report, textile exports have recorded the growth of 3.94 per cent in the first six months of the ongoing fiscal year.

Published in Dawn, March 20th, 2020