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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Angelina Francesca Cheang
MY ANJE

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

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
January 2017

January 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