Home / Knowledge / News / Policy / Egypt announces EG£ 500mn subsidy for cotton purchase
Egypt announces EG£ 500mn subsidy for cotton purchase
11
Jan '12
The Government of Egypt has announced a subsidy of EG£ 500 million for purchasing of seed cotton from local farmers.

A subsidy of EG£ 300 million would be provided by the Principal Bank for Development & Agricultural Credit (PBDAC) and it will be available to public sector spinning and weaving companies for procuring cotton, estimated at 750,000 kantars (1 kantar = 157 kilograms of seed cotton), from growers.

The remaining EG£ 200 million would be released by the Ministry of Finance.

The decision was taken at a meeting of the Cabinet's Committee on Improvement of Economic Conditions, which was held to discuss measures to improve the economy of Egypt.

Besides Prime Minister Kamal al-Ganzouri, the meeting was attended by the Ministers of Agriculture, Finance, and Planning & International Cooperation, among others.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Sep 2016

SASEC countries plan greater economic cooperation

The six member countries of the South Asia Sub-regional Economic...

Textiles | On 27th Sep 2016

CBEC unveils draft rules for registration under GST

The Central Board of Excise and Customs (CBEC) has unveiled draft...

Textiles | On 27th Sep 2016

Pak spinner Sajjad Textile halts operation

In a filing with the stock exchange, Pakistan yarn spinner Sajjad...

Interviews View All

Frank Gossmann
Rotorcraft AG

Vasanth Kumar
Max Fashion India

Anshul Sood
Oceedee

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

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

Giorgio Mantovani
Corman S.p.A

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

Silvia Venturini Fendi
Fendi s.r.l

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

Tony Ward
Tony Ward

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search