INTERNATIONAL BUSINESS PAGES
TEXPROCIL Sugges-
tions to the Govt.
The Cotton Textiles Export Promotion
Council's Committee of Administration
also met over Video Conferencing on 7th
April to take stock of the prevailing situa-
tion and deliberate on the urgent steps
required to mitigate the hardships aris-
ing out of the Lock Down.
Suggestions on support for the Exporters
to face the situation arising out of
lockdown on account of COVID-19 are:
1. Permit shipping line offices to func-
tion Pan India between 9 to 3 pm at
least so that essential documents like
Bill of Lading can be obtained and
send to customers so that they can
clear goods arriving at Ports.
2. Courier services to be allowed to op-
erate domestic and internationally to
handle such documentation.
3. At least 15% of total staff should be
allowed to attend office daily with is-
suance of priority pass for movements
for such companies.
4. To extend 3% Interest Equalization
Scheme beyond March 31, 2020 for
one year till March 31, 2021. Include
Cotton Yarn under the scheme.
5. To allow cancellation of Forward con-
tracts without any penalty/charges.
6. To grant a minimum one year morato-
rium on all term loans and interest in-
cluding interest on working capital
(Cash Credit/Packing Credit / PCFC )
to be repaid over the next 36 months
. This will not have any adverse im-
pact on the Profit & Loss Accounts of
the banks.
7. All L/C payments maturing from
March 22, 2020 to May 31, 2020 to be
converted into Term Loans payable
monthly over a period of 24 months.
8. Repo rate reduction announced by
RBI to be immediately passed on to
all the Working Capital/Term Loans.
9. To extend 3% Interest Subvention of
3% on all export credits for all prod-
ucts for 12 months.
10. Additional 25% FB Working Capital
for 12 months to be reduced monthly
over a period of the next 12 months.
Banks should be advised to do this at
the General Manager (GM) level in-
stead of going through the completeThe idea of constructing face
mask material in Turin was based
on previous years' experience
and the manufacturing capability
in place today. The team picked
up its knowledge in fine fibers
from past years and combined
this experience with its current
business orientation, which is liq-
uid filtration in long-life filter me-
dia for gasoline and oil, as well as
air filtration for gas turbines. In
bothproductsegments,
Ahlstrom-Munksjö holds a lead-
ing position. The technology used
is unique and the machine is ca-
pable of also producing other
products with very fine fibers. It
allows constructing different poly-
mers with mechanical protection
thanks to a very fine pore distri-
bution that is better than what is
currently available on the market.Fine fiber protective web in nano
range. These two different magni-
fications show how the web can
work mechanically and partly elec-
trostatically.
Collaboration between Ahlstrom-
Munksjö and local partners en-
abled converting and assembling
of fabrics into face masks only in
few days. The final product is
made of fine fiber filter media
which protects the people and a
prefilter which gives softness and
ergonomic property. The fine fiber The final face mask made of fine
filter media is produced in the fiber.
Turin plant and the prefilter at the company’s Brignoud plant in France.
First orders were received in the middle of March and the team is
now targeting to ramp up the fabrics production significantly. The pro-
duction supplements Ahlstrom-Munksjö’s existing product offering
in the Medical business and brings very much needed additional pro-
duction capacity to the market.
approval procedure which is time con-
suming.
11. Allow additional 90 days for export
payments to be received even
against discounted LCs/CAD docu-
ments.
12. Increase working capital limits by 25%
without collateral.
13. Packing Credit period for existing
loans and export bill realisation be
extended by six months.
NCM-APRIL 2020
8114. To extend complete waiver of
Employer’s contribution of EPF/ESI for
3 months. There will be no strain on
the Government.
15. MNREGA benefits should be re-
stricted to Non-ESI and Non-EPF
workers. This is needed to encourage
labourers to go back to the factories
when the lockdown opens.
16. 50% salaries /wages to be borne by
the Govt for the lock down period.