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Govt urged to defer textile sector loans
19 Sep '11
1 min read
Pakistan Cotton Ginners Association (PCGA) has urged the Government to defer loans given to the textile sector to help it come out of the current financial crisis.
The PCGA has also appealed to the Government to provide subsidy to the textile sector as many ginning businesses are facing bankruptcy and are on the verge of closure.
The ginners' body said huge loss has occurred to the cotton crop in both Sindh and Punjab provinces due to recent torrential rains.
Estimating the loss to be around 2 to 2.5 million cotton bales, the PCGA has requested the Government to compensate cotton growers who suffered heavy loss due to rains.
The PCGA has also appealed to the Government to provide subsidy to the textile sector as many ginning businesses are facing bankruptcy and are on the verge of closure.
The ginners' body said huge loss has occurred to the cotton crop in both Sindh and Punjab provinces due to recent torrential rains.
Estimating the loss to be around 2 to 2.5 million cotton bales, the PCGA has requested the Government to compensate cotton growers who suffered heavy loss due to rains.
Fibre2fashion News Desk - India
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