Implement Rs 35,000 crore debt restructuring package: SIMA

AHMEDABAD: The Southern India Mills' Association ( SIMA) chief S Dinakaran has appealed to the Ministry of Textiles & the Ministry of Finance to expedite the implementation of the Rs 35,000 crore debt restructuring package.

In order to help the industry limping back to normalcy after cotton price hikess, the government on May 29 announced the debt restructuring. Banks however, await directions from the government for implementing the package, he said in a press statement. He said there is a need for the Cabinet to pass a necessary resolution enabling the NPA units covered under debt restructuring package to become eligible for TUF subsidy.