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Govt to announce textile rescue plan

22
Jan '10
The government of Botswana it seems, believes in the age old adage; 'Better late then never'. After a number of textile companies pulled down shutters, unable to face the onslaught of the slowdown in the markets, the government has finally decided to implement a rescue plan.

The Deputy Permanent Secretary in the Ministry of Trade and Industry announced that the stimulus package had almost been finalised, with a few nitty gritty issues yet to be addressed, but would be operational in early 2010.

Mr Mphetlhe said that the Southern African Customs Union (SACU) duty credit certificate scheme, an export incentive scheme aimed at helping the textile industry to become internationally competitive, did not help the industry, as was desired.

This was mainly due to the competitiveness of the countries of East Asia like India, China, Bangladesh and Vietnam, which was making it difficult for domestic textile enterprises to maintain global market share and ultimately wilted under the onslaught.

Meanwhile Botswana Exporters and Manufacturers Association (BEMA) hailed the stimulus package despite it being a special short term programme but said that it would encourage industry to be competitive regionally and internationally.

Fibre2fashion News Desk - India


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