Knitwear Club over hike in yarn prices by mill owners

Knitwear Club, Ludhiana has regretted that mill owners have increased the yarn prices. It said today that the industrialists expressed anguish and concern over the manipulative tactics of a handful of persons which causes hike in the prices of yarn without any increase in the prices of raw material.

Adding, it said as the industry is already in financial crisis and under the pressure of various taxes such as excise duty and on the other hand the hike in raw materials will definitely raise the question for existence of the industry. If this situation continues, the industry will definitely collapse.

Regarding this issue the office-bearers of Knitwear Club including Vinod Thapar, Chairman,  Darshan Dawar, President, Narinder Miglani General Secretary, Rajinder Bhushan Maini, Senior Vice President and Jaswant Takkar Senior Vice President  will meet Punjab Minister for Industry and Commerce, Anil Joshi to intervene in this matter for the survival of the industry.