The Hindu : Andhra Pradesh News : APCO sets higher sales target of Rs. 110 crores

Online edition of India's National Newspaper
Wednesday, May 26, 2004

Andhra Pradesh

Andhra Pradesh

APCO sets higher sales target of Rs. 110 crores

By Our Staff Reporter

KARIMNAGAR, MAY 25. The APCO chairman, Balla Chandra Nageshwara Rao, said that they had set a target for increasing the sales of APCO products to Rs 110 crores during this financial year.

Addressing a press conference here on Tuesday evening, Mr Nageshwara Rao said that APCO's sales during the last financial year (2003-2004) was Rs 87.50 crores, compared with Rs 72 crores during fiscal 2002-03. He said that they had chalked out a programme to increase the sales by renovating the existing shops at a cost of Rs 2 crores, conducting training for handloom weavers' cooperative society members with the assistance of the National Institute of Fashion Technology (NIFT) to produce value added designs, by introducing the garments and furnishings in the shops of metros, organising exhibitions, etc.

Listing a charter of problems being faced by handloom weavers in the State, he said that the weavers were seeking increase in their wages, continuous supply of yarn, early payments and purchase of their fabric, weavers' pensions ranging from Rs 200 to Rs 300 per month against the existing Rs 75 per month.

The APCO chairman said that they had met the Chief Minister, Y.S Rajashekhara Reddy, and submitted a memorandum urging him to protect the interests of the weaver community, which is a major sector providing employment after agriculture. He said that they had urged the Government to waive interest on bank loans for weavers, waiver of central excise duty of 9.2 per cent on yarn, Rs 50 crore financial assistance to APCO for its revival and ensured employment for weavers.

He also urged the Government provide managerial expenses of APCO on a par with handlooms and textiles.

With regard to the Karimnagar division comprising Karimnagar, Adilabad and Nizamabad districts, he said that handloom weavers cooperative societies had conducted sales of Rs 4.8 crore during the last financial year. They had also sold about Rs 20 lakhs worth duty free yarn to the societies. With regard to the piling up of stocks in the Karimnagar division due to non-procurement by APCO, he said that stocks to the tune of Rs 1.5 crore were yet to be procured.

About payments in the Karimnagar division, he said that they had already made payments of Rs 2 crore and another Rs 2.18 crore would be made within the next 10 days. He also assured opening of yarn depots in each district. The APCO directors, Jagannadam, Mallaiah, Bhumeshwar, the DMO, Venkateshwarlu, the AD (handlooms and textiles), Shankaraiah, and others were present.

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