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

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Eamonn Tighe
Nature Works LLC

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

Larry L Kinn
Suominen Corporation

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
March 2017

March 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