Home / Knowledge / News / Textiles / Pakistan textile exporters demand lower interest rates
Pakistan textile exporters demand lower interest rates
26
Jul '12
Mr. Mohsin Aziz
Mr. Mohsin Aziz
The textile industry of Pakistan has requested the Government to cut down interest rates. Pakistan’s textile industry contributes around 53 percent to the country’s total exports. But due to limited energy supply and high interest rates, the textile industry of Pakistan is facing problems in maintaining their export volumes to other countries. 
 
Mr. Mohsin Aziz, Central Chairman of All Pakistan Textile Mills Association (APTMA), told fibre2fashion, “Textile is a competitive field and we have to remain at par with the world. We have told the Government that though they have announced the policy of technical upgradation through the TUFS, the incentive offered in the policy is not as desired or required at this moment.”
 
Talking about the problems faced by the textile industry, he expresses, “In Pakistan, the textile sector is not performing well because of various reasons. First, the inconsistent power supply and frequent load shedding are affecting our production levels. Second, the current rate of interest at 14 percent is very high and the textile industry cannot compete in this scenario."
 
“For the upliftment of our textile industry we urged the Government to bring down the interest rates to the level of around 5 percent,” Mr. Aziz tells. 
 
According to the export-import data released by Pakistan Bureau of Statistics (PBS), with a year-on-year decline of 10.38 percent, textile sector’s cumulative exports for last fiscal plummeted from previous year’s US$ 13.78 billion to US$ 12.35 billion.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Tony Ward
Tony Ward

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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