Home / Knowledge / News / Textiles / 'Stimulus package saves 1,700 jobs' – Finance Minister
'Stimulus package saves 1,700 jobs' – Finance Minister
09
Mar '09
Mr Sithanen, Finance Minister, Mauritius
Mr Sithanen, Finance Minister, Mauritius
According to Mr Ramakrishna Sithanen, Finance Minister of Mauritius, the US $330 million stimulus package declared in December 2008, has helped save 1,700 jobs in various sectors, including textiles, which is one among worst hit sectors in the country.

A joint committee compromising from public-private sector companies had been formed to overlook the implementation of the package and the committee is expected to approve Rs 300 million for at least twelve struggling enterprises in the country.

According to an International Monetary Fund (IMF) study, the country is expected to grow by two percent in 2009, compared to 5.1 percent achieved in 2008, the reduction in growth coming about in the $9 billion economy, mainly due to reduced export orders.

The finance minister added by saying that, the budget to be declared in the year will solely focus on maintaining employment opportunities in the island country. Mauritius will declare two budgets this year, since it is changing its financial year system.

Fibre2fashion News Desk - India


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Abhishek Pachauri

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

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Kerem Durdag
Biovation II LLC

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

Suresh Patel
Sidwin Fabric

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

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search