Home / Knowledge / News / Textiles / APTMA seeks regionally competitive interest rate
APTMA seeks regionally competitive interest rate
02
Nov '12
Chairman All Pakistan Textile Mills Association (APTMA) Ahsan Bashir has urged for provision of regionally competitive interest rate in the wake of improvement in the economic indicators.

He has appreciated the government for bringing inflation rate down to 8% besides improvement in current account deficit. This vital sign of improvement in the economic indicators is a big achievement for the government and should be reflected in the upcoming monetary policy to reinforce the government’s commitment of strengthening the economy through investment friendly measures, he added.
 
He said it is imperative for the economic managers of the country to consider further reduction in the interest rate as a confidence building measure to encourage industrial investment in the country. 
 
Chairman APTMA pointed out that the textile industry in Pakistan has failed to undertake green field or BMR investment since 2006 due to the high interest rates coupled with severe shortage of energy. The time has come to slash down the interest rate at par with regional competitors for the textile industry, he stressed.
 
Ahsan said a regionally competitive interest rate will attract investment in the textile industry, which is long overdue and will enable to narrow down the technological gap and create incremental capacities for generating exportable surplus.
 
He said it is an opportune time for the industry to prepare itself for the potential benefits of the imminent market access from the European Union (EU), at zero tariff level on imports into EU from Jan 2014 onwards under GSP Plus. 
 
According to him, the $18-billion textile industry of Pakistan is keenly looking forward to a competitive interest rate before undertaking productive investment in routine. It would also arrest the unemployment rate and provide stage for textile exports regaining momentum for take off. There exists surplus potential for the Textile Industry to convert basic Textile into value added exports, provided conductive environment is made available, he added. 

All Pakistan Textile Mills Association (APTMA)


Must ReadView All

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Courtesy: Messe Frankfurt

Textiles | On 27th Jul 2017

Intertextile Shanghai to see buyers from 100 countries

Suppliers from over 25 countries and trade buyers from around 100...

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Interviews View All

Md Hanifur Rahman
Aman Group

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

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

July 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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X