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Minister objects on disbursing textile revival funds

13
Apr '10
The Federal Government's decision to give out textile revival funds to the textile industry, received strong objection from the Minister of Commerce and Industry, Jubril Martins Kuye, who feels its will be a waste of government money.

Instead, Kuye pointed on certain aspects of the economy that he wants the government to review so as to boost the sick industrial sectors. He also said that he would endeavour to remove road blocks, that could possibly slow down business activities in the country.

“With decades of experience in my pocket, I know where the real trouble lies. Thus, I suggest that the government should not pay out the revival package incentives so soon”, he said.

For example, he said that, if the fund is provided now to the textile industries and they receive insufficient supply of electricity to run their machines, then the fund provided will be a waste. Instead, supply of continues electricity will help them operate their business flawlessly and then the funds could be of use to them.

He further informed that, it has to be beyond just giving out money to the textile sectors, along with which it is also necessary to ensure cotton is grown in abundant quantities and these mills are provided with regular supply of cotton.

To further encourage business in the country, Kuye assured that he will interact with other ministries and see to it that high duties, insecurity and other threats to the sector are discarded.

Fibre2Fashion News Desk - India


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