Press Trust Of India / Coimbatore May 14, 2009, 00:28 IST
Southern India Mills’ Association appealed to the Centre on Wednesday to make Nafed extend uniform discount in order to benefit small and medium mills.
In a statement, SIMA Chairman Dr K V Srinivasan alleged that the recent government policies were only beneficial to the traders and competing countries like Pakistan, China, Thailand and Bangladesh.
In view of reports that Cotton Corporation of India has already exhausted the stock and only Nafed is holding it, the government should ask Nafed to extend discount for the benefit of small and medium mills, Srinivasan said.
He also appealed to government to make necessary changes in MSP of cotton, immediately withdraw the 5 per cent export incentive and the bulk discount offered on cotton to enable the ailing textile industry to have a healthy competition.
Srinivasan wanted a special package for working capital with interest rate at 7 per cent, margin money at 10 per cent and credit period upto nine months to sustain textile industry’s survival.
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