Industrialists and different stakeholders in the textile industry have voiced their concern over the delay in the appointment of audit firm to Technology Upgradation Fund Scheme (TUFS). Prabhu Damadaran, secretary of Texpreneurs Forum, pointed out that the issue of appointing the audit firm had been pending for the past eight months even though the tenders were floated to identify the firms. “We have represented to the Union Government that the delay in the commencement of the functioning of the audit firm has made the textile sector SMEs suffer due to delays in payment of subsidy under TUFS.
Projects
“Moreover, the appointment of an audit firm to look into the issue will help hear the demand of the entrepreneurs to get the projects started during the blackout period of TUFS, i.e., between June 29,2010, and April 27, 2011, too eligible for subsidy under the scheme,” he said.
