Pakistan Cabinet approved a 1.2 billion rupee relief policy

Pakistan cabinet Wednesday approved a 1.2 billion rupees for the spinning sector lending rate relief policy, the textile and garment industry to provide support for research and development. According to the policy, the profit compensation mechanism has been extended to June 30, 2009, the spinning sector will be allowed to compensation of 3%, about 1.2 billion rupees.

According to the details of the cabinet meeting, Information Minister, Ms. Sherry Rehman said that the spinning sector to increase lending rates relief and the textile and garment industry to increase support for research and development has been approved. She said that in the Sui Southern Gas Company employees have been fired into the policy, the Prime Minister to form a special committee to assess the implementation of financial, and the decision to monitor and ensure implementation. The Government also decided to release 50,000 tons of candy, candy prices down at the same time, the government plans to spend 3,400,000 tons of wheat stocks.