1.6.7 Industrial development:
Pakistan’s investment in textile sector is 7 billion US dollar. As at the time of independence, Pakistan had only two Textile Mills units which were able to produce only 8 percent of their domestic needs. When Pakistan starts work in textile sector in 1950. Pakistan Industrial development Corporation of Pakistan played an important role in development of textile Pakistan which was established in 1952. Form a last few years capital expenditures are increasing as some medium and large industries are expanding there production volume. At beginning number of textile units was to now these are about 549 spindles.
1.6.8 Agricultural development:
As in development process of any industry many other sectors attaches with that sector. In case of textile industry many sectors are attached with it from which agriculture sector is a major sector which has abundance in raw martial of textile. So the development of agriculture especially cotton crop is much important. Development of textile industry means an increase in demand of cotton which is helpful in agricultural development. It can prove with the help of figures. In 1947 there were only 2 textile mills number of spindle was 177,000 and production of cotton was about 1.1 million bales and now there about 549 units of textile mills with the spindle capacity of 805 million now the production of cotton is approximately 11.958 million bales. Its mean the development of textile industry is a life line for farmers.
1.6.9 Government revenue:
This sector enhances revenue of government and contributes in recovery of economy year to year. Every industrialized, mechanized, manufacturing, engineering and business expansion is bounce to boost government Income. Income tax and newly implemented sales tax on domestic sales withholding tax are big contribution in government revenue.
1.6.10 economic stability:
Pakistan textile industry not only support economy but also is a major cause of economic stability. Advancement in textile manufacturing industry has support in diversifying Pakistan’s economy by dipping reliance on simple fabrication and export of cotton. Gradually this sector also diversifications by invigorating guarantee industrial progress.
1.6.11 living stranded:
Enlargement of Textile industry facilitate in growing the importance of yield for each employee of textile especially laborer. The income of the labor, due to higher productivity increased resulting in better living standards of growing middle class.
1.6.12 social welfare:
Textile industry provides multidimensional welfare and security to its employed labor force. This sector provides social security to labor attached with this sector and contributes in developing their living standard. As this sector increase the demand for labor textile industry provide good wage rate to its labor. The labor employed in this sector has facilities of social security. Textile sector had provided labor housing colonies. The industry provides free medical facilities to registered and secured labor force. The industry provides Education to labor and their child in well established social welfare workers schools. The industry provides education scholar ships till PhD form start to end of education from 15000 to 100000 rupees per year. The industry provides death grants in case of death of worker to amount of which is rupees 150000. The industry provides old age befits grants after 5000rupees per month the retirement of worker in age of 55 year. The industry provides marriage grants for female workers and for daughters of laborers the amount of which is 90000. During pregnancy the industry provides rest for 4 to 12 weak with salary in case of injury rest with salary. The industry also provides work place security during working hour.
