Over 300 power loom owners besieged the Tiruppur collectorate demanding to waive the loans extended to them.
Tiruppur, January 18
Over 300 power loom owners besieged the Tiruppur collectorate demanding to waive the loans extended to them.
Even though the textile mill owners have hiked the wagers to 31%, they have not abided by it and defaulted on paying us, the power loom owners said.
In such a scenario, we are not in a position to pay back the dues for loans availed by us, the Government should announce loan waiver schemes for the power loom sector which is ailing presently.
Over 2 lakh power loom units functioning in Tiruppur district would be benefited by the move, they said and submitted a petition to District collector Palanisamy.