Kerala - Thiruvananthapuram   

Debt relief for coir workers

THIRUVANANTHAPURAM: The government has issued orders approving a debt relief scheme for coir workers and units.

Minister for Cooperation and Coir G. Sudhakaran said that coir workers, small scale producers and coir cooperative societies would be eligible for relief in respect of loans taken in connection with making of husk, coir or coir products. Loans taken before March 31, 2008, from commercial banks or cooperatives which were in arrears as on March 31, 2009, would be covered under the scheme.

One-time settlement would be possible under the scheme for the loans not exceeding Rs.25,000 taken by individual small producers. The limit for coir manufacturing cooperatives would be calculated at Rs.5,000 for each worker who had worked for more than 60 days in the previous year. In the case of societies making coir products, it would be calculated at Rs.15,000 per worker.

The Minister said that the government had earlier converted the loans of the coir cooperative societies into equity. Thus they had received concessions totalling Rs.55 crore.

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