STOCK MARKET BSE NSE

Andhra cotton millers threaten stir

Published: 27th October 2012 09:04 AM  |   Last Updated: 27th October 2012 10:42 AM   |  A+A-

The Andhra Pradesh Cotton Association (APCA) has announced that all the spinning and ginning mills in the state would be shut down from November 5 unless the government ensured uninterrupted power supply.

The executive committee of the Association which held an emergency meeting here on Friday to discuss the power cut scenario unanimously passed a resolution to this effect.

Later, APCA vice-president Tulabandula Rangasai told newsmen that the industry incurred losses to the tune of Rs 150-200 crore per month in the recent past due to low or nil production, which in turn was because of power crisis.

The association members met chief minister N Kiran Kumar Reddy several times and explained their problems but nothing had happened, he added.

The state has 4,800 ginning, 200 spinning and 200 modern ginning mills employing about five lakh people directly and indirectly.

More than 60 percent of the spinning mills suspended their production and were on the verge of closure owing to power cuts, said APCA former president Gorantla Punnaiah Chowdary.

Association president Kamepalli Subba Rao, who owned a spinning mill, and another spinning mill owner committed suicide recently as they suffered huge losses due to power crisis, he alleged.

 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp