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SNGPL extends gas suspension schedule till Jan 20
20 Jan '11
1 min read
Over 600 factories, mostly from the textile industry, continued to remain shut down on the fourth day of gas suspension. The Sui Northern Gas Pipelines (SNGPL) has extended the gas suspension schedule till January 20.
Around 100,000 power looms also continued to remain shut down due to the seizure in the sizing of yarn as a result of gas suspension to the sizing units. Textile processing units were also not in situation to dispose the enormous stock of grey fabric within the limited span of their operation.
Around 400,000 workers, majority of them being daily wage earners, remained without job on the fourth successive day of gas load shedding and are forced to confront hunger because of the lack of earnings.
The export-driven as well as the labor-intensive value-added textile sector is currently incurring a loss of several billions everyday because of the gas suspension for five to six days in a week, whereas the mark-up rates imposed by the banks on the loans given to the units continue to rise.
Since the factories are not operating, the entrepreneurs are not able to pay back their debts within the stipulated time period.
Around 100,000 power looms also continued to remain shut down due to the seizure in the sizing of yarn as a result of gas suspension to the sizing units. Textile processing units were also not in situation to dispose the enormous stock of grey fabric within the limited span of their operation.
Around 400,000 workers, majority of them being daily wage earners, remained without job on the fourth successive day of gas load shedding and are forced to confront hunger because of the lack of earnings.
The export-driven as well as the labor-intensive value-added textile sector is currently incurring a loss of several billions everyday because of the gas suspension for five to six days in a week, whereas the mark-up rates imposed by the banks on the loans given to the units continue to rise.
Since the factories are not operating, the entrepreneurs are not able to pay back their debts within the stipulated time period.
Fibre2fashion News Desk - India
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