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Garment units given relaxation from increase in rent
17
Mar '10
Lilia B. de Lima, Director General of the Philippine Economic Zone Authority (PEZA), while talking to media on the sidelines of a news briefing in Malacañang, stated that relaxation has been granted to the garment manufacturing units functional in the state-owned economic zones from an increase in rent that was due for the current year.

This is being done, so as to aid the garment industry to recoup from the effects of the economic meltdown.

She added that, the exemption is being granted on considerate grounds, as where, other industries like electronics, information technology, etc. have recovered, industries like garment, etc. are still struggling.

She divulged that in the state-owned economic zones, leasers are due for five percent rent increase every three years and held that, as it is perceived that the crisis no longer persists, the state may raise the rents of the firms if they are due for the same.

The PEZA website reveals that, around 20 garment and textile firms, from amongst 122 that are registered with PEZA, are established in the four state-owned economic zones namely, Cavite, Bataan, Cebu and Baguio City.

It is evident that the country's merchandise exports are getting back to normal, as the government statistics depicts a yearly hike of 42.5 percent in exports, which touched US $3.578 billion in January, the third consecutive month of increase and the fastest growth since 1995.

Nonetheless, as laid down by the data released by the National Statistics Office, from amongst country's ten leading export items, exports of apparel, clothing and accessories which during the same period stood at $134.49 million has recorded a fall of seven percent, to touch $125 million.

According to De Lima, PEZA was also desirous of extending the advantage to other sectors which have yet not been able to manage to recoup from the effects global economic crisis. She observed that, if the companies wrote to them and sought their help, then they would grant them some leeway, which would be done on an individual basis.

She also added that, they have nothing to do with real estate business as they are involved in job creation and that PEZA can sustain losses in rentals, as long as its manufacturing plants are functioning properly.

During the previous year, they not only waived the increase in rent which were due, but also lowered the processing fees in respect of equipment and raw materials imports by the unit owners in the state-owned economic zones.

Fibre2fashion News Desk - India


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