Home / Knowledge / News / Textiles / Govt announces mark-up rate for textile sector
Govt announces mark-up rate for textile sector
03
Sep '09
The Ministry of Textiles issued a 'Mark-up Rate Support' notification order stating that, support will be admissible to the extent of 2.5 percent or the difference in mark- up rate between floating rate loan and Long Term Financing Facility (LTFF) rate, whichever is lower.

This order will come in to force from September 1, 2009 and Mark-up support can be taken, on, outstanding running balances of principal amount of floating rate long terms loans availed by the textiles industry and disbursed up to August 31, 2009, for financing import/purchase of textile machinery for which funds under State Bank's LTFF have not been availed.

The payments will be made by the commercial banks or Development Financial Institutions (DFI's) on a six monthly basis in March and September each year, subject to release of necessary budgetary allocation by the Federal Government for relevant fiscal year.

The facility shall be administered by the commercial banks or DFI's and they will make the payment to the extent of mark-up rate support on the outstanding balance of loans availed by the borrower of textiles sector and claim reimbursement from, the apex bank; State Bank of Pakistan.

The textile units, registered under the scheme, will be provided with special identification numbers to be used in all future communications. The registered units shall furnish data and any information related to the unit's operations, domestic sales, accounts and exports as, where and when required by the Ministry of Textiles.

Fibre2fashion News Desk - India

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Kerem Durdag
Biovation II LLC

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin
Chapurin

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

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
January 2017

January 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