Home / Knowledge / News / Apparel/Garments / Garment units given relaxation from increase in rent
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

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search