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Tuesday, March 9, 1999

Ministry mulls Rs 9,000 cr plan to revive NTC mills 

R Ravichandran  
HYDERABAD, Mar 8: A Rs 9,000-crore revival and rehabilitation package for 150 odd mills of the National Textiles Corporation (NTC), will be in place within the next three months. Union minister of textiles, Kashiram Rana said the CCEA would take a decision on the report of the expert group set up to draw a blueprint on the revival package which was submitted to the government recently.

Rana said the members of expert group had made an elaborate study nationwide and detailed the problems point by point on the ailing NTC mills. The package would bring back the mills on a normal course, he added.

The Rs 9000 crore revival package for the ailing NTC is part of the overall Rs 50,000 crore proposal for the entire textile industry in the country. Of this, Rs 25,000 crore has already been cleared for the technology upgradation fund apart from the Rs 9,000 crore, Rana said. To give fillip to the cotton industry, a Rs 400 crore cotton technology mission is also under way. Agriculture ministry will coordinate withthe textiles ministry in this regard to increase the production volume and improve the quality. On the new textiles policy, Rana said the ministry had taken the suggestions from various chambers and industry, corporates and garment exporters. The expert committee would submit the report by end of April.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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