Korea International Cooperation Agency (KOICA) will provide a Grant-in-Aid of $7 million for the Strengthening of the Pak-Korea International Cooperation Agency at National Textile University, Faisalabad.
The total cost of the project is US$ 7.12 million which includes a KOICA grant in aid share of US$ 7.00 million and National Textile University, Faisalabad share of US$ 0.120 million (For O&M), according to official documents seen by ProPakistani.
The Concept Clearance for the Strengthening of Pak-Korea Technical Textile project at National Textile University, Faisalabad has been approved by the Central Development Working Party(CDWP). The project is a joint venture between KOICA, National Textile University, Faisalabad, Higher Education Commission, Islamabad, Ministry of Federal Education and Professional Training, and Ministry of Economic Affairs Division, Government of Pakistan.
The project was submitted to the Korean Government through the South-East Section of the Economic Affairs Division for funding and project funds are available with the KOICA, Islamabad for disbursement. The project is also in accordance with the Textile Policy, 2014-2019, and Textiles and Apparel Policy 2020-25, claimed the documents.
The strengthening of the infrastructure of this Technical Textile Center is expected to help in widening the textile production base, comprising value-added products such as health care and hygiene products, protective textiles, high-performance textile products, geotextiles, agro textiles, and medical textiles.
The proposed project will have the following objectives /benefits after completion:
- To promote the technical textile industry of Pakistan
- To establish the technical textile Centre at National Textile University with adequate facilities for the implementation of the R&D program for the technical textile and industry-university collaboration system
- To establish the R&D facilities for technical textile
- To build up an Industry-University cooperation program in the technical textile area
- To provide support to the business startup in the technical textile sector and facilities for domestic and export market development for technical textile
- To develop international linkages in the relevant area
- To increase the value of Pakistani export through the development of high-value-added textile product
Well done NTU. Work hard.