SIMA Chairman hails clearance of pending TUF cases

SIMA Chief has also thanked the Ministry of Textiles for clearing all pending subsidies of several thousands cases at the IMSC meeting held on 18th May, 2012. However, he has appealed to the Ministries of Finance and Textiles to reconsider the TUF subsidy for blackout period to enable the beneficiary units to have a level playing filed and sustain their viability.  He has stated that as TUF Scheme has been in vogue without any break from the day one it was announced, the genuine demand of the affected units must be considered by the government favourable. 

Mr. S. Dinakaran has also appealed to the Textile Ministry to expedite the clearance of pending cases and also the subsidy for the quarter January-March 2012 to ease the liquidity position of the textile mills before the end of June 2012.  He has also appealed to the Finance Ministry and the RBI Governor to hasten the process of debt restructuring package amounting to Rs.35,000 crores which has already been cleared by the Finance Ministry.

Southern India Mills' Association (SIMA)