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Export refinance scheme to facilitate import of cotton

18
Mar '10
The Federal Textile Minister announced that the State Bank of Pakistan (SBP) will provide export refinance facility to facilitate import of two million bales of cotton to meet the shortage of cotton which has arisen in the country.

Rana Farooq Ahmad Khan said that exports of yarn are expected to touch 614 million kgs in the current fiscal year against 517 million kgs shipped in the previous fiscal, which translates in to an export growth of 17 percent.

He added by saying that, textile exports would be monitored by the customs authorities on an actual and first-cum-first served basis and the Trade Development Authority of Pakistan (TDAP) would constantly monitor the situation.

Fibre2fashion News Desk - India


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