The chairman of the All Pakistan Textile Mills Association, Anjum Salim, said on Thursday that he expects investment in the country's textile industry to rise to more than $500 million this year.

He made his comments as it was revealed that the industry reaped investment of $485m in 2001 with the traditional sectors of spinning and weaving gaining the lion's share of that huge total. They were followed by the value-added areas of apparel, knitting and finishing.

Anjum Salim said he is optimistic more money will go into the value-added sectors this year as several new units are in the pipeline. Some have already gone into production," he said. "The remaining are likely to be operational in the coming few months."