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Textile magnets demand hefty financial package

06
Mar '07
After this year's budget, the government announced a financial package of around Rs18 to Rs25 billion textile industry.

However, textile entrepreneurs are unhappy about this release and are demanding more subsidies.

The textile majors are claiming that the Government provide the Rs51 billion package, as prepared by the Motiwala committee, initially.

Meanwhile, Ministry of Finance has said that the textile magnets were unnecessarily demanding bigger package, in the pretence that declining export trends in an election year, were unaffordable.


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