Pakistan Textile Industry Requests The Government To Provide 5% Loan Interest Rate Return.
All Pakistan
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Gohar Ejaz, President of the APTMA, asked the government to return the 5% interest rate for short-term and long-term loans payable before June 30, 2011 in response to the global cotton crisis according to the measures adopted by the regional competitors.
He said that in response to the global cotton crisis, regional competitors, including India, Sri Lanka, Bangladesh and China, have provided different support for their textile industry.
Measures
。
The chairman of the APTMA said that the India government quickly provided 7.5% of the tax rebate for the textile industry and value-added industries as a sustainable development measure for the textile industry.
Sri Lanka qualified textile exports
company
A 5% duty-free bonus is provided.
Bangladesh has been providing different incentives, such as bank loan rearrangement tools, yarn export 5% cash award, cotton import development fund and so on.
China has raised the textile tax rebate rate to 14%. In a series of other measures, China has formulated a comprehensive textile revitalization plan.
The chairman of the APTMA said that the textile industry achieved an export volume of US $14 billion in the coming fiscal year.
However, he added that without the support of the government, the textile industry would rely on its own strength to achieve such export scale in the future.
In addition, the current amount of bad loans is 600 billion rupees. The government's response to this problem is slow. It may lead to a sharp rise in the number. Therefore, in the current widespread crisis, the government should provide a 5% interest rate return for the textile industry, covering the repayment of the loans until June 30, 2011.
Short-term
And long-term loans.
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- Pakistan Textile Industry Requests The Government To Provide 5% Loan Interest Rate Return.