SIMA thanks Minister for clearing TUF subsidy till Sept '13

Southern India Mills' Association today thanked Union Textile Minister, K Sambasiva Rao, for clearing the Technology Upgradation Fund subsidy for the quarter ending September last.

It also thanked the minister, for constituting a committee for considering the pending cases of TUF, consequent to a meeting of a delegation from SIMA and Confederation of Indian Textile Industry, which will finalise the list in 10 days and process the issue, SIMA Chairman T Rajkumar said in a statement here.

The release of subsidy would ease the financial position of the mills and enable them purchase cotton during peak season, he said.