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SBP forms body to resolve textiles related issues

03
Feb '10
The apex bank, State Bank of Pakistan (SBP) has constituted a committee to look into issues affecting the textile sector, especially with those related to implementing the policies incorporated in the Textile Policy declared last year.

The committee will be headed by the Governor of SBP and will be constituted of other directors of the bank. They will meet the federal advisor on textiles, Mr Baig on a quarterly basis and apprise him of the issues.

This was revealed by Mr Baig who also said that he also raised the issues put up by the various textile bodies with the Governor and asked him to resolve the same at the earliest.

With regards to the 2.5 percent reduction in mark-up on export refinance vide notification No 3(2) TID/09-P-I dated September 1, 2009, the SBP promised Mr Baig that it will make a payment the half-yearly payment of Rs 2.5 billion, before April 2010.

Fibre2fashion News Desk - India


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