Home / Knowledge / News / Textiles / Chairman APTMA felicitates Governor SBP
Chairman APTMA felicitates Governor SBP
21
Oct '11
Chairman All Pakistan Textile Mills Association (APTMA) Mohsin Aziz has welcomed appointment of Governor State Bank of Pakistan (SBP) Yasin Anwar and expressed the hope that a capable person like him can overcome the issues affecting monetary policy matters.

He said the Governor SBP has already took a prudent decision of reducing discount rate by 50 and 150 (200) basis points and the industry is further pinning hope on him in revival of pros-industry policy of the central bank.

He said the industry was expecting further reduction in discount rate in next monetary policy, as it is yet the highest in the region, hitting viability of the industry heavily. Also, he said, the bank spread between the borrowing and lending rate is abnormally high, requires immediate review by the SBP to ensure a business environment conducive to further investment and growth.

He said the Pakistan economy was under strong inflationary pressure, leading to a troublesome situation for textile industry in particular, mainstay of Pakistan economy and exclusively export-oriented segment of Pakistan economy. Resultantly, he said, the number of Non Performing Loans (NPLs) is on the rise and exposing many business ventures to bank defaults and finally insolvency.

Chairman APTMA said the newly-appointed Governor SBP is very experienced and a capable banker and expressed the hope that he would start interacting with business community soon in order to understand the gravity of situation and the constraints under which the industry is currently confronted with.

All Pakistan Textile Mills Association (APTMA)

Must ReadView All

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Angelina Francesca Cheang
MY ANJE

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

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

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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