Small spinners seek quality cotton at reasonable prices

South India Spinners Association (SISPA), today urged Textile Commissioner Kiran Sony Gupta to ensure availability of quality raw material, cotton -- at reasonable prices levels without much volatality.
During an interaction with the official, who visited the office of SISPA, office bearers highlighted various problems being faced by small spinners, its president, K Thirunavukkarasu, said.
SISPA wanted the textile ministry to maintain a stock to use ratio of 50 lakh bales of cotton stock till the end of the cotton arrival season to meet the needs of the spinning sector, he said.
Other issues discussed were scrapping of excise and customs duty on synthetic fibers to create a level playing field in the international market, extension of Technology Upgradation Fund Scheme for another five years and restoring five per cent interest Subsidy under Revised Restructured Technology Upgradation Fund Scheme for the SME Sector.

The Association also wanted the official to recommend 4 per cent Interest subsidy for loan sanctioned before March 2013, due to delay in allotment of Unique Identification (UID) number units and recommend the government to abolish the Hank Yarn Obligation Scheme or at least reduce it to a minimum level of 10 per cent, Thirunavukkarasu said.