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Ghanaian govt to frame policy for textile sector revival
Feb '13
Mr. Ablakwa (courtesy: GNA)
Mr. Ablakwa (courtesy: GNA)
The Ghanaian Government proposes to join hands with the textile industry stakeholders to devise a national policy for resuscitating the domestic textile industry, Samuel Okudjeto Ablakwa, Member of Parliament (MP) for North Tongu Constituency in the Volta Region has said.
Mr. Ablakwa said this during his visit to textile firms in the Constituency to learn about the administration and working of the firms and about the challenges faced by them and discuss the forward journey, Ghana News Agency reported.
He said the Government is determined to revive the textile industry by infusing capital in the sector with the help of private players, which would also ensure that companies, including Juapong-based Volta Star Textiles Limited (VSTL), can function at their optimum capacity and are also upgraded to match global standards.
VSTL Acting Technical Director Evans Agyagbo said financial constraints led Juapong Textiles Limited to shutdown in 2005, but the Government refurbished the firm in 2007 to enable it to restart its operations.
Drawing financial support from the Export Development and Investment Fund (EDIF), VSTL infused Ghc 300 million to revive its operations, Mr. Agyagbo said. The sum was used to purchase raw inputs to aid production of greybaft, and settle outstanding salary dues of workers, he added.
Presently, the company has been able to revive 25 percent of its production capacity, and expects to soon boost this to 75 percent, for which it has sought Government assistance, Mr. Agyagbo said.

Fibre2fashion News Desk - India

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