Central bank offers funding for textile machinery
24/04/2009
The State Bank of Pakistan has announced that it will help export-focused companies in the country’s textile industry fund investment in new plant, machinery and equipment. The projects the bank said it wanted to encourage include spinning, the manufacture of performance fibres such as Lycra, and yarn dyeing.
The bank has said it will refinance up to 50% of companies’ investment in new technology, leaving them to raise the rest from private loans or their own resources.
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