Powerloom Owners Stops Production

Powerloom Owners Stops Production

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Powerloom owners in Coimbatore and in the Tiruppur district have stopped production in their respective units to protest fluctuating yarn prices that are affecting their profit margins.

Powerloom owners who take orders from cloth traders and job workers have also called on the government to reduce VAT on yarn to 2 per cent from 5 per cent to reduce yarn prices. The owners have also urged the government to ban export of waste cotton that could help decrease yarn prices.