Commerce Minister Dinesh Singh told the Industrial Committee on Cotton Textiles to-day that the Government had decided to set up a textile corporation to manage ‘sick’ and weak textile mills. A Bill would be introduced in the next session of Parliament to facilitate the take-over of these uneconomic units, he added. Mr. Singh’s announcement of the decision received general support from the representatives of employers and employees. The committee also decided that the Government should set up investigation committees under the Industries (Development and Regulation) Act to investigate the affairs of units already facing closure. Another recommendation to the Government was to set up a tripartite committee at the centre to keep a watch on the situation and detect cases of deteriorating management in time.
