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Wool research body upset over fund loss
07
Dec '09
Foundation for Research Science and Technology's (FRST) decision, to cut funding for a Wool Consortium, disappointed the Wool Research Organization of New Zealand (WRONZ).

Mr. David Douglas, Chairman of WRONZ said this decision would take its toll on an industry which needs research to regain its economic potential. WRONZ had been investing around $1.5 million a year on such research projects for wool industry.

He believes that the application for consortium funding for wool research has been rejected by FRST on account of farmers' votes against the wool levy in the Meat & Wool New Zealand Referendum, in August.

The wool industry would have benefited by $6.5 million of Government funding in addition to the grower levy funds of $6.4 million, which has resulted in a loss of $12.9 million in funding, which will now not be available, for the wool industry each year.

On account of the government's decision to walk away from wool research, WRONZ would need to re-visit its investment plans already made for the coming year and reduce investments in current activities, due to the loss of government money.

Fibre2fashion News Desk - India


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