Home / Knowledge / News / Textiles / Egyptian govt allocates E£ 300mn for textile sector
Egyptian govt allocates E£ 300mn for textile sector
10
Oct '12
The Egyptian Government has allocated E£ 300 million for revival of textile companies, especially spinning and weaving units.
 
The Government headed by Prime Minister Dr. Hisham Qandil is keen to revive the textile spinning and weaving industries in the country, as they involve low investment while creating several employment opportunities, Minister of Trade and Industry Dr. Hatem Saleh said while announcing the Cabinet decision.
 
There will not be any lay-offs during the restructuring of loss making textile companies, even if these companies are liquidated, the Minster said.
 
He added that efforts would be made to further boost the profits of profit-making spinning and weaving companies.
 
On the other hand, various alternatives would be considered for loss-making companies, which cannot be restructured. Liquidation and partnership with the private sector would be among the various options that would be considered by the Government to minimize losses of these firms.
 
The Minister said there are 430 textile units in the country which are facing problems, 90 percent of which have trouble with banks, while the remaining 10 percent have license problems. He said the Government is making efforts to tackle and address the problems of these companies.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

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

Lynda Kelly
Suominen Corporation

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

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

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