National Textile Policy to be declared soon

20 Dec '08

4 min read

Resolution Trust Company: Working with State Bank, SECP and PBC for the revival of closed textile units under public private partnership making them viable by enhancing their economy of scale under BMR with the injection of fresh funds by the new investors under ten years resolution trust company a model already tested by US and other countries. China is very keen to supply their textile machinery for such units as their investment. Also working on the laws (liquidation and chapter 11), for the respectable exit in case of default or close down of the units. Release of the personal guarantees of the sponsors will also be a part of it.

Improvement of cotton production to improve the supply chain of sector: By cultivation of BT cotton in Pakistan at various meetings with Monsanto, the supplier of special seeds giving 40 percent higher yield per acre. India has successfully acquired this technology and has improved their cotton production significantly.

Consessional Financing to Exporters: On taking up the matter with State Bank, they have already allowed export refinance part II and LTFs at the consessional financing of 7.5 percent for the exporters and also now accepting R&D claims for the shipment made up to June 30 current year.

All exports should be zero rated in true sense.

Fibre2fashion News Desk - India

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