Pakistan's textile industry is set to receive a government funded multi-billion rupee package. With a big focus on Research and Development, the scheme should see exports grow 22 per cent in 2006-2007 (July-June). Meanwhile, neighbouring India is also to extend its technology-focused investment scheme "TUF" until 2009.

Pakistan's government agreed Saturday to a proposal that will give a multi-billion rupee investment to its domestic textile industry.

The package, worth between 22-25 billion rupees (US$365.4-415.2 million), was confirmed during a meeting of the Economic Coordination Committee (ECC) under the direction of Prime Minister Shaukat Aziz.