Home / Knowledge / News / Industry trade bodies hail new policy moves from apex bank
Industry trade bodies hail new policy moves from apex bank
15
Nov '08
Industry bodies from across all sectors have welcomed the policy measures announced by the apex bank of Pakistan. They have welcomed a move by the State Bank of Pakistan (SBP), which has provided for 100 percent refinancing to banks against export finance provided by these banks to exporters both under Part I & II of the Export Finance Scheme and Long Term Financing Facility (LTFF) for Plant and Machinery.

Along with appreciating the policies, they have suggested a few measures for revival of the economy and remove impediments in free flow of credit to the industries at large. But at the same time they were skeptical about the rise in discount rate which may hurt the industry.

The Governor of the SBP, Dr Shamshad Akhtar has assured the representatives on the above move by saying that this was necessitated because the country's economic indicators have come under stress due to the impact of global commodity price hikes combined with a persistent rise in aggregate demand pressures. Both factors have resulted in rising fiscal and external account deficits during the current year beyond sustainable levels, she said and added that these trends generated inflationary pressures.

The Governor on her part has assured the industry that all efforts will be made to meet the credit needs for the growth of the economy and added by saying that the State Bank will further strengthen its monitoring mechanism to keep tack of liquidity requirements and take appropriate actions to meet the requirements.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Kai Poehler
Voith Paper GmbH & Co. KG

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Yash P. Kotak
Bombay Hemp Company

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search