Coimbatore, Dec 7 (KNN) South India Mills' Association (SIMA) on Wednesday urged the central government to convert three-year loan under Emergency Credit Line Guarantee Scheme (ECLGS) into six year loans.

Dr. S.K. Sundaraman, Chairman, SIMA chaired an urgent meeting on Wednesday virtually with the office bearers of all associations representing spinning mills and open-end spinning mills to discuss and decide the strategies for mitigating the unprecedented crisis.

They also discussed various issues and relief measures that they anticipate the various state governments and central government to provide, as per the press release.

The Chair said that the spinning mill's association has appealed to Prime Minister Narendra Modi to extend one year moratorium for repayment of the principal amount.

He further stated that the associations have jointly requested the Chief Ministers of Tamil Nadu, Andhra Pradesh and Telangana to roll back the power tariff hike brought in the recent years for a period of one year as major relief fr0m the state governments.

Adding to their demands, Sundaraman explained that they also want the state governments to exempt 3rd party power and IEX power purchase fr0m cross subsidy surcharge and additional surcharge so as to reduce the burden for the DISCOMS.

The officers fr0m South India Mills' Association (SIMA), Tamil Nadu Spinning Mills Association (TASMA), South India Spinners Association (SISPA), Indian Spinning Mills Association (ISMA), Recycle Textile Federation (RTF), and others participated in the meeting.

(KNN Bureau)