Leather tanneries in dire need of modernization fund plan
18 Sep '06
1 min read
Leather industry wants extension of Rs150 crore tannery modernization fund scheme which is to be co-terminus with the 10th Plan in March 2007.
This fund was allocated in November 2005 which has the ability to generate an investment of Rs1,000 crore.
Industry leaders are of the opinion that generation of Rs1,000 investment is long term process and it can not be achieved overnight.
To provide maximum benefit to the tanners this scheme should be extended for three more years, M Rafeeque Ahmed, Chairman of Council for Leather Exports (CLE) and President of All India Hide Tanners and Merchants Association (AISHTMA) stated.
While speaking at 23rd annual general body meeting of IFLMEA, Zackria Sait stated that this scheme should be extended till march 2008 as it is part of Rs290 crore Integrated development of leather sector' program.
Out of those Rs290 crore, Rs150 crore has been allocated for advancement of tannery while Rs140 crore for enhancement of manufacturing facilities.
marketing@alchempro.com
