SIMA hails decision on TUFS

Coimbatore: The Southern India Mills Association (SIMA), Coimbatore, has welcomed the decision of the Ministry of Textiles to lift the freeze on sanctioning of fresh loans under the Technology Upgradation Fund Scheme (TUFS) with effect from July 21.

In a statement, the SIMA Chairman, Mr S.V. Arumugam, said the association was thankful to the Finance Minister, Mr P. Chidambaram, for considering the request made by the textile industry on sanctioning fresh loans for the growth of the textile industry.

He requested the Central Government to allot adequate funds in time for TUFS so as to avoid similar problems in future.