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Textile trade union body urges for immediate stimulus package
22
Apr '09
The textile division of the Confederation of Revolutionary Worker's Union (DISK), said that the textile sector is facing a very disastrous situation and urged the government to roll out a stimulus package for the sector immediately to avoid a catastrophe and revive the industry.

Among the demands are one-year suspension on collection of social security premiums of the workers, bring down energy prices by 50 percent and reduce taxes on wages and in return the government should ensure no worker is laid off during the incentive period.

The government has been slow on implementing revival plans for the textile sector, on the lines adopted by its competitor countries like India and China and has received flak from all and sundry for the same, which includes trade bodies and labour trade unions in the country.

The government had recently revised the exports targets from the textile and garment sector in the country by bringing down the goal from a positive 4 percent to a negative growth rate of 3.6 percent, which in effect means contraction of exports.

Unemployment is also raising its ugly head and figures suggest that those figures are touching unmanageable proportions. Recently revealed data indicates that unemployment has reached 15.5 percent till February, the highest since 2005.

Fibre2fashion News Desk - India


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