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Ripe time to declare another stimulus package - Bankers
21
Sep '09
A second stimulus package is necessary to impel the momentum received from the release of the first stimulus package was the unanimous opinion of the bankers and industry, at a meeting held in HCM city.

According to one of the bankers, "The first package has helped many companies and business households maintain production and even expand and the second stimulus package should have a narrower scope and objective”.

Another banker suggested that apparel, footwear and seafood exporters should be given priority and that the second stimulus package should not offer a subsidy of more than 2 per cent or a loan period of more than six months.

Pham Ngoc Hung, Deputy Chairman of the HCM City Business Association, suggested that the second package should last until the end of next year and focus on small- and medium-sized businesses which employ a large number of workers.

According to a report, industrial production has grown gradually since the launch of the first stimulus package and grew by 5.5 percent in the first eight months, when compared to the same period last year.

Fibre2fashion News Desk - India


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