Home / Knowledge / News / PLGMEA against increase in ERR
PLGMEA against increase in ERR
05
Oct '10
The Pakistan Leather Garments Manufacturers & Exporters Association's (PLGMEA) Chairman, Fawad Ijaz Khan, has strongly denounced the State Bank of Pakistan's move to hike the Export Refinance Rate (ERR) by 0.5 percent. According to Khan, this rise in ERR would then boost the manufacturing cost for exporters.

The leather garment industry is in a fix over the dearth of hides and skins in the country, on account of heavy rains in the country. The floods have claimed lives of around one million cattle and have dislocated about 20 million of them, who are now starving for the want of grass, he said.

He further stated that, usually during this period the leather garment exporters make bulk purchases to stockpile for upcoming Autumn/Winter seasons. But this season, the buyers don't seem to be eyeing Pakistan for purchases, due to the deteriorating law and order conditions and also for the high cost of products, when compared with those offered by exporters from India and China.

Rise in the wages of workers coupled with rise in energy and gas charges and the recent hike in ERR have all together shot up their production cost, he said and thus, pleaded the State Bank of Pakistan's Governor to do away with this hike in the ERR.

Fibre2fashion News Desk - India


Must ReadView All

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Textiles | On 22nd Nov 2017

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Karl Mayer, a technology and market leader in textile machinery from...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

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

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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