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Cotton Board faces financial crunch

08
Jul '10
After taking over the ginnery from their partners, Swaziland Cotton Board has started facing financial problems. The board is now seeking strategic investors to join hands with them in running the ginnery, as ginning is a crucial process in the cotton value chain processing, though it is costly, as per the quarterly reports, out in the market, by Public Enterprise Unit (PEU).

The cotton board seeks government's assistance, when it does not have a partner to contribute to the working capital. Revitalizing cotton ginning is one of the major priorities of the board, which is now focused on formulating a time befitting management structure that would ensure sufficient cotton production and working capital.

A strategic plan, for functioning and financing two businesses of the board, should be developed by the Swaziland Cotton Board, suggested the Public Enterprise Unit. The PEU also underlined the requirement of seeking investors for funds, to operate the ginnery.

Fibre2Fashion News Desk - India


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