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

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Top executives
Textile industry

GST has levelled the playing field to an extent

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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