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Stakeholders boost efforts on disbursal of textile revival fund

03
Aug '09
Stakeholders of the textile industry fed up with the delay in reimbursement of the N100 billion textile revival funds are now taking initiatives to revive the same.

The biggest objective of this group is to find the ways and means to raise the funds for the revival fund which is lying in limbo since five years.

The main organisations which are leading the drive are the Senate Committee on Commerce and Industry, the Bank of Industry (BoI) and the Ministry of Commerce and Industry.

Following a meeting of the textile industry and the ministry, the ministry has promised to find a way out for speedy disbursal of the revival fund.

This has come about due to the pressure from the textile sector after a Minister confessed that no provision has been made for the fund in the budget.

Fibre2fashion News Desk - India


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