Home / Knowledge / News / Textiles / Chairman APTMA welcomes reduction in bank mark up rate
Chairman APTMA welcomes reduction in bank mark up rate
11
Oct '11
Central Chairman All Pakistan Textile Mills Association (APTMA) Mohsin Aziz has welcomed reduction in bank mark up rate by 150 basis points to 12 percent and expressed the hope that the State Bank of Pakistan (SBP) move would lower the cost of credit for the private sector in Pakistan.

He appreciated the policy decision and further added that credit availability at globally competitive mark up is the way forward fir textile industry.

Chairman APTMA said the high interest rate by banks had discouraged the private sector earlier in availing credit earlier. The present reduction may enable the industry to avail the opportunity for short and long term investments in the country, he hoped.

However, he pointed out that the bank mark up was yet high in Pakistan comparing with the competitors. It should be brought down to single digit at the earliest, he said.

He explained that the textile industry cannot export inflation and high interest rate regime impacts negatively to the competitiveness of industry.

Chairman APTMA has urged the government to ensure immediate allocation of funds under the Technology Upgradation Funds Scheme (TUFS) for disbursement to the for textile industry for undertaking its pending investment decisions.

All Pakistan Textile Mills Association (APTMA)

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Larry L Kinn
Suominen Corporation

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

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

Karan Arora
Karan Arora

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

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