>>
Home / Knowledge / News / Textiles / 'Include spinning sector in BMR of LTFF scheme' – APTMA

'Include spinning sector in BMR of LTFF scheme' – APTMA

23
May '09
Mr Tariq Mehmood, Chairman, APTMA
The All Pakistan Textile Mills Association (APTMA) has requested the government to include the textile spinning sector in the Balancing, Modernization and Replacement (BMR) of the Long Term Financing Facility (LTFF) of the apex bank as a trade policy initiative.

The government in 2007 had launched the LTFF scheme which lends credit for installing new machinery at concessional rates, but the textile industry had not been included in the scheme.

Fibre2fashion spoke exclusively to Mr Tariq Mehmood, Chairman, APTMA, who said, “In the coming days, three big events are going to take place. Budget in June; new textile policy will be declared and long term trade policy will be announced”.

He continued, “Spinning sector of textile industry has not been included in the Long Term Financing Facility (LTFF) scheme and as a trade policy initiative, is a very effective scheme providing helping hand to almost all sectors in textile industry".

But, he lamented, “The spinning sector has not been included in the said scheme. Hence APTMA has urged government, to include spinning industry in LTFF so that the benefits can be fully availed”.

“As a matter of fact 45 percent of the $5 billion investment in the textile industry, since 2001, was made by the textile spinning industry, which was not brought to the notice of the Govt, so while all other sectors of textile industry enjoy the benefits of LTTF, the spinning sector has been left out”.

Explaining the term BMR in a broader manner, Mr Mehmood said, “We have different sections in spinning and some sections in the spinning department are 'Balanced' to derive a correct product mix”.

“Then comes 'Modernization', where the same machine is replaced and upgraded with certain features which helps in consuming less electricity or can generate more energy in a greater amount then before”, he added.

“Third is Replacement where, the machine is altogether replaced with a new machine which can deliver better quality and productivity at lowered costs and is much better than the existing machine”, he concluded by saying.


Fibre2fashion News Desk - India


Must ReadView All

Pic:  Iurii Krasilnikov | Dreamstime.com

Apparel/Garments | On 7th Dec 2021

Legislation to extend HOPE & HELP Acts until 2035 introduced in US

Companion bills to extend the Haitian Hemisphere Opportunity through...

Pic: Roman Romaniuk | Dreamstime.com

Textiles | On 7th Dec 2021

Euro area, EU see expansion in volume of retail trade in October

In October 2021, the seasonally adjusted volume of retail trade...

Pic: Enanuchit | Dreamstime.com

Textiles | On 7th Dec 2021

Transport bodies caution govts against ‘knee-jerk’ reaction to Omicron

World leaders’ knee-jerk reactions to the Omicron variant are putting ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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 2021

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


Advanced Search