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Stakeholders asked to review the TUF scheme and submit their suggestions

YarnsandFibers News Bureau 2015-02-11 17:05:00 – Coimbatore

At a meeting organized on the TUFS by the Southern India Mills’ Association in Coimbatore on Monday, Textile Commissioner Kiran Soni Gupta said that the Ministry was looking at balanced growth of different segments of the textile and clothing sector and if there were modifications that were needed in the Technology Upgradation Fund Scheme (TUFS), the stakeholders should review the scheme and submit their suggestions. These could be taken up at the end of the XII Plan period.

Those who had not received benefits under the scheme because of different reasons should revisit the case with their respective banks now.

The Office of the Textile Commissioner was trying to classify the cases into different categories so that it would be easier to follow up with the Government. It was also trying to streamline the procedures and bring transparency to the scheme.

She further added that the allocation of Rs. 2,300 crore for the scheme this year had been exhausted and the Ministry had sought additional funds.

According to Association chairman T. Rajkumar, the scheme was under implementation since 1999 and all those, who had been affected for different reasons, should get relief so that there was a level playing field and the financial viability of the mills was not affected.

The association request the Textile Commissioner to address the TUF issues on a war footing to enable the affected textile mills to regain their competitiveness and achieve a sustained growth rate.

According to a senior official in the Union Ministry of Textiles, the Union Government is expected to announce the textile policy soon as it is almost ready.

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