Yarn price: Kanimozhi, other MPs to meet Nirmala Sitharaman, Piyush Goyal in Delhi

CHENNAI: A delegation of all-party MPs from western Tamil Nadu led by DMK deputy Parliamentary party leader Kanimozhi Karunanidhi will meet Union Finance Minister Nirmala Sitharaman and Union Textile Minister Piyush Goyal on Wednesday and urge them to reduce yarn prices.

A statement from the State government said that Chief Minister M K Stalin has advised a delegation of MPs from western Tamil Nadu led by Kanimozhi Karunanidhi to meet Sitharaman and Goyal in New Delhi on Wednesday, May 18, and urge them to immediately resolve the problems of weavers.

Hon'ble @PMOIndia, The continuing price rise of cotton and yarn has widespread ramifications for the textile industry in TN which is traditionally an employment generator.

I request you to take serious note of this precarious situation and rein in the price rise. pic.twitter.com/SSeJqo2CqI

— M.K.Stalin (@mkstalin) May 16, 2022

The announcement came a day after Stalin wrote to the Prime Minister, seeking his intervention to end the problems faced by the weavers of the state. He also assured that the government would make all efforts and continuously urge the Union government to fulfill the demands of weavers, who were on hunger strike for the past couple of days demanding a reduction in the price of yarn.

In his letter to the PM, Stalin said that a large number of spinning, weaving, and garment units face the danger of closing due to unsustainable demands on their working capital and price mismatch between the agreed price of supply to the buyer vis-a-vis the cost of production.

“Manufacturers of garments of garments are suffering huge losses and many MSME units have already closed their operations resulting in massive job losses in a sector that is traditionally an employment generator, ” said Stalin in his demi official letter.