Surat power loom investments suffer sans PAC meetings

16 Jun '19

1 min read

New investments in the power loom sector in country’s biggest man-made fabric (MMF) industry in Surat are being delayed with the textile commissioner’s office not holding a single project approval committee (PAC) meeting in the last 16 months, according to the Federation of Gujarat Weavers Welfare Association (FOGWA). The meeting should be held once every month.

All projects related to new investment in the power loom sector are approved in the PAC meeting.

FOGWA president Ashok Jirawala told a top Indian newspaper that project investments to the tune of over ₹2,000 crore have been hit in the textile sector without these meetings.

The association has requested the new textile commissioner to hold the monthly PAC meeting regularly so that projects under the Technology Upgradation Fund Scheme (TUFS) get approved on time.

Jirawala said the reduction in subsidy rate from 30 per cent to 10 per cent has adversely affected investments under the amended Technology Upgradation Fund (ATUF) scheme. The association has recommended restoring the rate at 30 per cent so that the micro, small and medium enterprisesin the power loom sector can benefit. (DS)

Fibre2Fashion News Desk – India

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