The bill, already passed by Lok Sabha, was approved in the Upper House.
In order to curb the textile sector, the government is stressing on revamping the sick mills including the National Textile Corporation, says a PTI report.
"We will revive sick mills. The Ministry is working to bring to profit a total of eleven mills of NTC in the next three months. National Textile Corporation (NTC) had acquired 119 mills, out of which 78 are closed under the Industrial Disputes Act," Textiles Minister Santosh Gangwar told Rajya Sabha.
The bill, already passed by Lok Sabha, was approved in the Upper House.
Gangwar said, “The government was not in favour of Ordinance but had to bring it to prevent NTC land slipping out of its hand and there is no intention to sell mills as Prime Minister too has pronounced the importance of the sector."
He said 23 NTC mills were running and five were in profit while 11 in dispute are put to arbitration and two have been handed over to Puducherry, while NTC is out of BIFR.
"We had received Rs 6,547 crore from sale out of which Rs 1,618 crore was spent on modernisation while Rs 2,379 crore was spent on VRS and Rs 2,388 crore on wages. We have with us remaining Rs 1,480 crore,” he said.
Gangwar added that at present there are 8,000 permanent and 3,000 daily wage workers with NTC.
"We have requested the Finance Minister for eight textile centres in addition to 13 textile parks announced a month back. Fifteen more parks will be announced in a month and we will ensure one park in each north eastern state besides reserving 25 per cent of parks for states that do not have have such facility," he said.
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