Home / Knowledge / News / Textiles / Credit demand from textile sector up in H1 F11
Credit demand from textile sector up in H1 F11
18
Apr '11
There has been a steep rise in the credit demand of the textile industry which rose by 110 percent to Rs. 177 billion during the initial six months of the current fiscal year which started on July 2010, as over same period in the earlier fiscal year.

In its recently released report, the State Bank of Pakistan (SBP) stated that, the textile sector availed over 50 percent of the private sector credit, which is suggestive of high prices of raw materials, and raw cotton in particular.

Demand for credit from the private sector accelerated with a rise of 51 percent in the stock of outstanding loans to Rs. 208.8 billion during the period under consideration, as over corresponding period last year. A rise in the seasonal demand for working capital and trade related loans has lead to a substantial rise in credit to private sector.

The impact of soaring prices of raw materials on credit demand was visible even in sectors other than textiles.

The upturn in the ratio for the textile sector is because of a rise in advances to the sector during second quarter of the current fiscal year. Besides, improvement in textile exporters' margin due to rise in export prices also boosted their capacity to payback some of the loans.

Conversely, the Gross Non-Performing Loans (NPLs) registered a rise of Rs. 58 billion to touch Rs. 517.9 billion by close of December 2010, as over a rise of Rs. 34.1 billion registered during corresponding period in the previous year.

Textile and energy sectors accounted for more than one-third of this increase in NPLs.

Fibre2fashion News Desk – India


Must ReadView All

Turkish-Algerian JV to set up textile unit in Relizane

Textiles | On 17th Jan 2018

Turkish-Algerian JV to set up textile unit in Relizane

Construction of one of Africa's largest textile production...

Courtesy: Indorama Ventures

Textiles | On 17th Jan 2018

IVL, Huvis to enter JV for Low Melting Fibre plant in US

Indorama Ventures Limited (IVL), a global chemical producer, and...

Future Group to set up garment manufacturing in Bengal

Apparel/Garments | On 17th Jan 2018

Future Group to set up garment manufacturing in Bengal

Kishore Biyani-led Future Group is going to set up a garment...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kerem Durdag
Biovation II LLC

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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