Home / Knowledge / News / Textiles / Pakistan carpet exporters seek stake in PM's loan scheme
Pakistan carpet exporters seek stake in PM's loan scheme
11
Feb '14
Vying for a stake in Prime Minister’s (PM) Youth Business Loan Scheme, the Pakistan Carpet Manufacturers and Exporters Association (PCMEA) has urged the Government to collaborate together for the disbursement of the loans under the PM’s scheme for creation of jobs in rural areas, empowerment of womenfolk and enhancement of exports.
 
According to the PCMEA, the carpet industry is best suited for employment generation in rural areas, which is the primary focus of the loan scheme.
 
In a written request to Prime Minister Nawaz Sharif, PCMEA chairman Akhtar Nazir Khan has emphasized that such loans could be used to establish small manufacturing units with 5 to 10 handlooms in rural areas.
 
Mr. Khan said that PCMEA would offer its services to scrutinize and recommend eligible candidates for these loans, and he also suggested that in order to ensure repayment, such loans should be distributed through exporters.
 
In the letter, PCMEA has urged the PM to reserve Pk Rs. 1 billion for the handmade carpet industry to create 13,000 employment opportunities in most poor areas and bottom five percent section of the society.
 
Noting that the carpet industry remains a labor-intensive industry, with high number of women workers, who work from home at lowest employment cost, Mr. Khan suggested that the Government should re-think on the criteria for extending loans, and emphasize more on trained manpower rather than education.
 
According to PCMEA, handmade carpet industry in Pakistan employs over one million people, and produces 100 exportable products with a minimum 600 percent value addition. However, despite being the largest cottage industry in the country, the industry remains highly unorganized.
 
On the eight percent mark-up, PCMEA vice chairman Kamran Razi noted that the handmade carpet production being a lengthy and time-consuming process, the industry cannot afford such high mark-up rate. He thus suggested that the loans shall be provided at three percent service charges.
 
Mr. Razi said factors like rising inflation, utility rates and business losses have pushed the industry in a liquidity crunch situation, causing sector’s exports to decline from US$ 285-300 million per annum five years ago to $ 120 million in 2011-12.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

PVH, WWF tie up to protect water bodies in Ethiopia, India

Apparel/Garments | On 23rd Apr 2018

PVH, WWF tie up to protect water bodies in Ethiopia, India

PVH Corp , parent company of brands like Tommy Hilfiger, Calvin...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Top executives
Textile industry, India

The event should be organised every year

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Eric Scholler
Groz-Beckert

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madhu Jain
Madhu Jain

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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