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Textile ministry announces welfare measures for SC category workers

Related Keywords: artisans, belonging to schedule caste category, entrepreneurs, group insurance scheme, handloom and handicraft sector, higher subsidy to upgrade for powerloom under the modified scheme, jute and sericulture workers, National Jute Manufacturers Corporation, number of welfare measures, powerloom workers free of cost, Textile Ministry, weaves

The textile ministry announced number of welfare measures for weavers, artisans, jute and sericulture workers, and entrepreneurs belonging to the Scheduled Caste (SC) category on Wednesday.

A group insurance scheme has also been decided for the powerloom workers free of cost and will bear the maximum financial burden of such a scheme. The government will bear the weaver’s share of Rs 80 completely, taking its own share to Rs 370 per weaver, out of the total premium of Rs 470 per weaver. The remaining Rs 100 per weaver will continue to be paid from the Social Security Fund of LIC.

Ethiopian govt to sell all its shares in companies jointly owned begins with Saygin Dima Textile Factory

Related Keywords: acrylic yarn, dyes natural, Ethiopian govt, first factory, license for textile manufacturing, PPESA, production capacity, Saygin, Saygin Dim Textile factory, sells shares, spins, synthetic fibers, textile companies, to produce, Turkish private sector, weaves

The Ethiopian government sells all of its shares in the Saygin Dima Textile Factory S.C. to its Turkish private sector partner company Saygin. The Turkish company will pay 563 million Br over five years for 90pc of the value of the government's share.

The Privatization & Public Enterprises Supervising Agency (PPESA), established the textile factory in partnership with Turkish investors in 2009, with a capital of 78.5 million dollars. Originally, the government owned 60pc of the company, while Saygin, a Turkish company, owned the remaining 40pc.

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