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Privatization helps turn around defunct textile unit
28 Apr '09
1 min read
Effective functioning of the privatized sector would go a long way in sustaining the economy of the country, said, the Minister of Trade and Industry, Girma Biru, while on a visit with other officials to a privatized textile mill.
Recalling the state of the same unit about two years back, Girma Biru said that the textile mill had been functioning way below capacity and was full of praise for the way, privatization had helped in turning around the factory.
The textile unit was operating at only 40 percent against the 80 percent now, thanks to the new machinery installed which had led to the increase in productivity, said the MD of the textile unit and was also full of praise for the help the government had extended.
Recalling the state of the same unit about two years back, Girma Biru said that the textile mill had been functioning way below capacity and was full of praise for the way, privatization had helped in turning around the factory.
The textile unit was operating at only 40 percent against the 80 percent now, thanks to the new machinery installed which had led to the increase in productivity, said the MD of the textile unit and was also full of praise for the help the government had extended.
Fibre2fashion News Desk - India
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