;
Home / Knowledge / News / Textiles / Textile sector receives Rs176 bn under EFS
Textile sector receives Rs176 bn under EFS
07
May '08
The State Bank of Pakistan and commercial banks have provided a sum of Rs 273 billion under the Export Refinance Scheme (EFS) to all eligible export-oriented sectors during the first three quarters of FY08, out of which an handsome amount of Rs 176 billion or 65% was availed by the textile sector at 7.5% - lower than ongoing 6-month Karachi Inter-Bank Offered Rate (KIBOR) of around 10.32%.

It may be mentioned here that the above-mentioned amount is equivalent to the amount provided to the Textile Sector during the same period of FY07. Likewise, textile sector has also availed over Rs 4 billion during the same period as a long-term financing at 6% to 7%, which is even below ongoing EFS rates. The SBP has also sanctioned an amount of Rs 8 billion under its newly-announced Long Term Financing Facility (LTFF) for disbursement to the textile sector during January-June 2008.

The funds so far disbursed under this scheme have been availed by the textile sector. It may also be added here that during the period from FY 03 to December 2007, the State Bank has provided refinance amounting to Rs 897.5 billion to the Textile Sector under EFS at the mark up rates which were below the ongoing market rates providing sufficient savings to the sector.

Further, Textile Sector has availed refinance amounting to Rs 54 billion under Long Term Financing for Export Oriented Projects (LTF-EOP) Scheme since its inception in May 2004 to February 15, 2008 at a fixed rate of mark up of either 6% or 7% for the full tenure of the loan which can extend up to 7-1/2 years.


Must ReadView All

Textile-garment park inaugurated in Ethiopia's Jimma

Textiles | On 15th Dec 2018

Textile-garment park inaugurated in Ethiopia's Jimma

President Omar al-Bashir of Sudan, President Ismail Omar of Djibouti...

Some trying to create unrest over wages: Bangla minister

Textiles | On 15th Dec 2018

Some trying to create unrest over wages: Bangla minister

Some people are trying to create unrest in Bangladesh over the...

Condition of Cambodian garment workers improves: ILO

Apparel/Garments | On 15th Dec 2018

Condition of Cambodian garment workers improves: ILO

Cambodia has seen remarkable improvements in labour standards in the...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

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

Karan Arora, Karan Arora

Karan Arora
Karan Arora

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

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Igor Chapurin, Chapurin

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

Leave your Comments


December 2018

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

news category


Related Categories:

Advanced Search