'Industrialists facing problem in getting subsidy, contact Knitwear Club' | punjab | Hindustan Times
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'Industrialists facing problem in getting subsidy, contact Knitwear Club'

punjab Updated: May 07, 2014 21:23 IST
HT Correspondent
HT Correspondent
Hindustan Times

Lending a helping hand to industrialists facing problems in getting a subsidy under the Technology Upgradation Funds Scheme (TUFS) of ministry of textiles, Knitwear Club has asked them to contact senior members of the club.

In a recently held meeting with senior officials of the regional textile commissioner office at Amritsar, club chairman Vinod Thapar discussed problems being faced by industrialists related to knitwear and textile industry in detail. He also discussed that there were problems in availing 15% capital subsidy under the scheme for importing machinery for up gradation.

Thapar said, “It was an important meeting with the officials of regional textile commissioner office as the business community related to hosiery and textile were facing problems with respect to TUFS. There was a delay in subsidy as promised under the scheme.”

He added that the scheme had been availed by hundreds of people for importing machinery with a 15% capital subsidy. “The scheme is beneficial for hosiery and textile industry, but has been marred by delays in subsidies,” Thapar pointed.

Earlier, those availing benefits of TUFS had to first apply at a bank which then sent the documents to the regional office, which again forwarded it to the head office of textile commissioner in Mumbai, making the procedure cumbersome. “Now, those applying under TUFS should directly send their documents to the regional branch as the role of the bank has been discarded according to amendments made in 2013,” said the club chairman.

Officials from the office of textile commissioner have assured to mitigate the problem immediately.