As per the revival plan approved by the Board for Industrial & Financial Reconstruction (BIFR), National Textile Corporation Ltd. (NTC) is to revive 24 mills directly by itself. The revival scheme is self-financed through sale of surplus assets of NTC and no financial assistance has been provided by the Government.
The main reason for the mills incurring losses are acute power cut resulting in under-utilisation of installed capacity and the perennial problem of labour shortage.
Revival of NTC mills is as per the revival scheme approved by BIFR which, inter-alia, provides for funding of the scheme from the proceeds of the sale of surplus assets of NTC. There is no plan to revive any of the closed mills of the Corporation.
