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Textile union body chief sees light after long period of darkness
29 May '09
1 min read
The President of the Turkish Textile, Knitting and Clothing Industry Workers' Union (TEKSIF), Nazmi Irgat said that the depressed textile sector has started to see light after a long period of time.
The darkness Nazmi Irgat refers to is the slowdown witnessed by the sector, due to which numerous factories have either closed down or are operating at very low production capacities, leading to a high number of job losses.
According to the Irgat, the crisis was profound, more so to do with the credit squeeze experienced by most textile companies and also due to a dip in orders from their overseas markets.
But he added by saying that, since the last few weeks, there are signs of recovery which is a encouraging sign and could help in garnering investments into the sector, which will help it get back on the tracks at a faster rate.
He urged the government to take the initiative form now onwards and steer the textile sector towards a better and healthy future.
The darkness Nazmi Irgat refers to is the slowdown witnessed by the sector, due to which numerous factories have either closed down or are operating at very low production capacities, leading to a high number of job losses.
According to the Irgat, the crisis was profound, more so to do with the credit squeeze experienced by most textile companies and also due to a dip in orders from their overseas markets.
But he added by saying that, since the last few weeks, there are signs of recovery which is a encouraging sign and could help in garnering investments into the sector, which will help it get back on the tracks at a faster rate.
He urged the government to take the initiative form now onwards and steer the textile sector towards a better and healthy future.
Fibre2fashion News Desk - India
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