Home / Knowledge / News / PLGMEA against increase in ERR
PLGMEA against increase in ERR
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

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sonam & Paras Modi

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

Sanjukta Dutta
Sanjukta's Studio

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

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search