PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

37-H, BLOCK-6 P.E.C.H.S., KARACHI-PAKISTAN

TEL: 0092-21-34522769, 34522685, 34544765 FAX: 0092-21-34543774

E-MAIL: info@phmaonline.com URL www.phmaonline.com

VERY IMPORTANT

Ref. No. PHMA/Cir-096/2014

Dated: 5^th December, 2014

TO ALL MEMBERS OF THE ASSOCIATION

TECHNOLOGY UPGRADATION FUND

Ministry of Textile Industry had announced the captioned scheme whereby following incentives were announced to support investment for up gradation of textile machinery and technology:-

1. For projects exceeding investment of Rs. 10 million in machinery or technology, the Federal Government will pick-up 50% markup subject to maximum of 5 percentage points p.a., whichever is less.

2. For projects with investment in machinery and technology not exceeding Rs.10 million, the Federal Government may provide grant up to 20 % of the capital cost for new plant and machinery only as “Investment Support”. This support will be available to SMEs and defined under the SBP Prudential Regulations for SMEs.

3. Some companies have already filed their applications but those who have yet not applied, are advised to file their applications URGENTLY as the government is going to announce cut off time.

The government is now set to release funds for this scheme.

All the relevant details of scheme as well as concerned notification of SBP are attached herewith for ready reference.

Thanks & Best Regards,

Muhammad Babar Khan

Chairman, PHMA