Home / Knowledge / News / Textiles / Exports hit by new monetary policy
Exports hit by new monetary policy
06
Feb '08
The new monetary policy issued by the State Bank of Pakistan might not be very encouraging for certain sectors of the textile industry.

According to the new monetary policy, interest rates have been pulled up by half percent and further that the cash reserve ratio of the banks are to increase from 7 percent to 8 percent. As a consequence, the markup rate is likely to go up affecting debtors who will end up paying more to the banks.

Exporters in Pakistan were anyways criticizing the high markup rate and the increasing cost of production and to add to this situation, the new policy will make it virtually impossible for the needy to take loan from the banks.

Mr Shabir Ahmed, Chairman, Pakistan Bed wear Exporter's Association expressed concern over the issue stating that the industry had been adversely affected from the decision taken by the State Bank. He informed Fibre2fashion that export of bed wear went down by 8 percent during the period July 2007 to Dec 2007 and the policy adopted recently will only worsen the situation.

Further, stringent and inflexible laws are also keeping buyers away from dealing with Pakistan which is, again, affecting exports.

Pakistan Bed wear Exporter's Association

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Madhu Jain
Madhu Jain

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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