ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Needed Action, Not Warnings

Needed Action, Not Warnings Package Deal Nishtar TEXTILE Commissioner Rangaswami warned mills the other day that any violation of the directive on stock limits would be dealt with severely. He also asked mills and traders to submit periodical returns of stocks and consumption and warned that penal action would be taken if they failed to do so. Does the Textile Commissioner still have to think in terms of warnings? Has not the position in respect of cotton prices assumed sufficiently alarming proportions to demand stem action ? It is quite some time ago that the president of the East India Cotton Association made the charge that some of the affluent mills had indulged in massive and aggressive buying and had acquired stocks much in excess of the prescribed limits. That a large number of traders and mills had failed to supply the requisite returns of stocks and consumption should have served as an eye-opener.

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