03 May 2022, Mumbai:
National Textile Corporation stares at closure, blowing out 7,200 jobs; govt likely to monetise its land.
National Textile Corporation is likely to be shut down by June 30, 2022.
A letter titled ‘Closure of NTC’ was sent by the Union textile ministry to the Chairman and Managing Director Ashutosh Gupta.
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In a written reply in March 2022 in Rajya Sabha to CPI MP Binoy Viswam, Minister of State for Textiles Darshana Jardosh mentioned that in mild of continued poor financial viability of NTC mills, the Ministry of Textiles is getting ready a motion plan for the best way ahead on this matter in session with NITI Aayog and Division of Public Enterprises below Ministry of Finance.
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The ministry claimed that the staff has been being paid wages and statutory dues as per mutual settlement between the administration and representing the staff of the mill.
In one other response in Lok Sabha in March 2022 to DMK MP S Gnanathiraviam, Jardosh acknowledged that regardless of big funding for modernisation, NTC mills proceed to stay unviable.
Nevertheless, a number of staff state in any other case.
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CREDITS: National Herald Techy News Zone (The news article has not been edited by DFU Publications).
