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Stimulus plan fails to benefit textile companies

17
Jun '09
The government has launched a stimulus plan named 'Morocco's Stimulus Plan' to support the companies impacted by the global financial downturn, but only a few textile companies have benefited from this plan.

The Vice-President of the textile companies' association 'AMITH' Mr Tarik Agizoul said in a conference that many of the companies failed to avail benefit from this stimulus plan. The sector has lost almost 8 percent of its jobs in the last few months.

The Moroccan textile and automobile industries are the sectors most affected by the international crisis due to drop in export demands. This situation forced the government to launch this stimulus plan to help the companies out, but the plan was not prepared well, agreed the participants in the conference.

Fibre2fashion News Desk - India


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