Pakistan Textile Industry Requests The Government To Provide 5% Loan Interest Rate Return.

Gohar Ejaz, President of the Pakistan Textile Mills Association (APTMA), asked the government to meet the global demand. Cotton crisis According to the measures adopted by the regional competitors, the 5% interest rate for short-term and long-term loans to be repaid before June 30, 2011 is returned.

He said that in response to the global cotton crisis, regional competitors, including India, Sri Lanka, Bangladesh and China, have provided different support measures to their textile industry.

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. textile industry Measures for sustainable development. Sri Lanka provides a 5% duty-free bonus to eligible textile export companies. 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 gained $14 billion in the coming fiscal year. Export scale 。 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 short-term and long-term loans to be repaid by the end of June 30, 2011.