The government is going to announce a five-year textile policy with a fund of Rs80 billion next month, the Minister for Textile and Industry said on Wednesday. Abbas Khan Afridi said that Pakistan exports textiles, mostly in raw form, including cotton and yarn of $10 billion and if value-addition is made, the exports could even touch $75 billion mark, he said, while addressing the “Pakistan Cotton Consultative Conference” in Islamabad. “Pakistan is also going to soon sign a memorandum of

Federal Minister for Textile Industry, Abbas Khan Afridi said Wednesday that country’s exports would increase by $2 billion annually owing to the incentives provided by the government to the textile sector. He was addressing a press conference at the conclusion of a day-long Pakistan Cotton Consultative Conference organized by the Ministry of Textile Industry with an aim to take recommendations and proposals from the stakeholders for the promotion of textile sector. The minister was flanked b

India's apparel exports jumped by 24.96 percent to 1.49 billion U.S. dollars in May because of demand from Latin America, West Asia, Southern Africa and East Asia, the Apparel Export Promotion Council (AEPC) said Thursday. The value of apparel exports in the first two months of the current fiscal stood at 2.81 billion U.S. dollars, which is 20 percent higher than the corresponding period of last fiscal. Some problems related to the garment industry in the major competing countries like Chi

Striking workers outside the Li Kyant Footwear Factory in Yangon's outer western Hlaing Tharyar Township on June 11. Photo: Nyein Thit Nyi The management of a footwear factory in Yangon says it cannot afford to pay the K30,000 minimum monthly wage demanded by 600 workers who went on strike over the issue on June 9. "As we are paying a rate of 125 kyats an hour, their salary is at least 65,900 kyats a month and we will not meet their demand for a minimum wage," Daw Aye Aye Mon from the Myan

In the first five months of 2014, the textile and garment sector maintained stable export growth compared with the same period last year and continued to stand among the top sectors in terms of the export value, the Vietnam Economic News reported. According to the data released from the Ministry of Industry and Trade, in the first five months of 2014, the export value of the textile and garment sector reached 7.44 billion USD, a rise of 17 percent compared with the same period last year. In t

Representatives of national industry called a press conference at Mongol News press agency about a huge investment in the textile industry, namely the establishment of a partnership contract. The agreement calls for an annual three million EUR in Mongolian exports. As of today, a total of 450 textile factories are operating in Mongolia. Before soft loans from the Chinggis Bond for equipment and facilities were granted to textile factories, the Mongolian textile industry had been operating wit

The Lahore Chamber of Commerce and Industry (LCCI) has sought investment from Turkish businessmen in the country’s textile sector. During a meeting with a seven-member Turkish business delegation at the LCCI office, LCCI president Sohail Lashari said the textiles sector has traditionally been the biggest sector of Pakistan’s economy. Studies and surveys confirm that the textile sector’s contribution in total exports are almost 60 percent and it engages almost 38 percent of manufacturing l

The Ministry of Textiles, Government of India, is inviting proposals from Industry Associations/Groups of Entrepreneurs /Special Purpose Vehicles (SPVs) for setting up of Integrated Textile Parks (ITPs) under the Scheme for Integrated Textiles Park (SITP) during the remaining part of the 12th Five Year Plan (April 2012 – March 2017). For the ITPs, Government funding will be 40 percent of the project cost with a ceiling of Rs. 40 crores. For special category states, the funding will be 90 perc

A file photo shows a grower washing jute fibres at a village in Munshiganj. Bangladesh Bank on Monday said the jute sector entrepreneurs would get loans at the interest rate of 9 per cent from a central bank’s refinance fund of Tk 200 crore. — New Age photo Bangladesh Bank on Monday said the jute sector entrepreneurs would get loans at the interest rate of 9 per cent from a central bank’s refinance fund of Tk 200 crore. The BB on the day issued a circular to managing directors and chief ex

A fire broke out in a private jute mill at Dattapara suburb of the district town on Tuesday, which gutted huge quantity of raw jute, jute products and factory tools. Fire Service officials said the fire erupted at a room of the Natore Jute Mills in the BISIC industrial area at about 11:45 am and the blaze soon engulfed the entire factory. On information, four fire fighting units rushed to the spot and are working to douse the blaze. The cause of the fire could not be immediately kno