Home / Knowledge / News / Textiles / Government announces textile rescue package
Government announces textile rescue package
23
Oct '10
As revealed by an official statement, the Ministry of Trade and Industry has declared a revival package for textile sector, which would benefit 44 textile firms including, 11 large scale, seven medium scale and 25 small scale firms and one micro company.

Gaborone and Francistown region turned out to be the most successful claimant of this revival package with 19 companies getting the aid, while Molepolole, Selebi-Phikwe, Tutume, Bobonong and 10 other villages followed the sequence.

The pace at which the companies are being brought within the coverage of the assistance has remained to be slow. However, the Ministry is optimistic that, the assistance would be extended to a number of other companies in different cities, towns and villages of the country.

As per Central Statistics Office (CSO) figures, textiles constituted to be Botswana's main non-mineral export prior to the economic slump and stood at P2.7 billion in 2007, before it dropped to P1.8 billion in 2008 and further to P1.4 billion in 2009.

Further, though the official data depicts that the textile exports are far below the ones recorded prior to the economic slump, the Trade Ministry is optimistic that its revival package would help the industry to recuperate and to post higher results next year and ahead.

The Bank of Botswana (BoB) data reveals that, the total exports of the textile firms as on June 30, 2010 came to P300 million, which is far below exports of P869.8 million recorded during corresponding period in 2008.

Though these figures have been derived by relying on factors like prices and the Pula/US$ exchange rate, but then the analysts do accept that the 2008 market crash have had greatest influence on the exports.

The sector, prior to 2009 employed over 6,000 workers, but post recession its labour strength has seen a sharp fall of 80 percent. However, the CSO statistics reveal that, prior to the economic slump, the textile industry together with textile yarn manufacturing, synthetic material, clothing and other outfits, stood amongst the most rapidly growing industries in terms of employment generation.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Courtesy: IMRG

Apparel/Garments | On 23rd Jun 2017

UK online retail sales up only 10.2 pc YoY in May 2017

UK online retail sales were up 10.2 per cent year-on-year (YoY) in...

Courtesy: Radicigroup

Textiles | On 23rd Jun 2017

Radici Chimica focuses on business continuity

Radici Chimica SpA, a strategic RadiciGroup company, is keen on...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Suresh Patel
Sidwin Fabric

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

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

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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