ISLAMABAD         –             The federal government of Japan has prolonged grant help of JPY 500 million (roughly PKR 700 million) for enhancing the tutorial capabilities of the Nationwide Textile College (NTU) in Faisalabad.

This assist framework, the Financial and Social Growth Program, is for procuring refined gear and machineries from Japan.

Notes to this impact have been signed and exchanged between MATSUDA Kuninori, Ambassador of Japan to Pakistan, and Dr Syed Pervaiz Abbas, Secretary of the Financial Affairs Division, right here Thursday.

Nationwide Textile College (NTU) is the one nationwide college of Pakistan specialised in textile schooling in Faisalabad, a heartland of cotton manufacturing, producing hundreds of high quality graduates within the textile trade.

On this program, Ring Spinning Machine, Digital Flat Knitting Machine, Carbon Fiber Rapier Looms and different gear might be supplied to the NTU. Textile is a key trade of Pakistan, occupying 50-60% of its whole exports. In response to a current press report, textile exports have recorded progress of three.94% within the first six months of the continuing fiscal 12 months.

Significantly within the value-added sector, knit put on recorded progress of seven.59 % and ready-made clothes recorded progress of 12.08 % respectively. Gear supplied on this program will improve the tutorial setting of the NTU and thus will assist strengthen the inspiration of the textile trade in Pakistan, enhance its exports of valued-added merchandise and enhance its nationwide financial system.

Within the signing ceremony, MATSUDA Kuninori, Ambassador of Japan to Pakistan, dedicated that Japan continues to assist Pakistan in its effort to maximise its potential within the areas with comparative benefits akin to textile trade.

In 2019, the federal government of Japan supplied USD82.12 million in whole to Pakistan underneath the twelve new Grant Support tasks in several sectors together with well being, disaster-management, agriculture and water provide.

In recent times, Pakistan has been the most important recipient of Japan’s Grant Support among the many seven South Asian nations, Pakistan, India, Bangladesh, Sri Lanka, Nepal, Bhutan and Maldives.