FESCO settles billing row with Galaxy Textile Mills

Faisalabad Electric Supply Company (FESCO) has settled the long standing dispute over billing amount with Galaxy Textile Mills, Jhang, without furthering any undue concessions, FESCO has announced.

FESCO said it is one of the best power distribution companies, and has been meeting all the targets set by the National Electric Power Regulatory Authority (NEPRA). This could only be achieved with total consumer satisfaction and when full recoveries are made, the company said.

FESCO will recover outstanding dues of Pk Rs. 70.246 million from Galaxy Textile Mills in eight quarterly instalments. The instalment amount begins with Pk Rs. 2.5 million, and then increases to Rs. 5 million, Rs. 7.5 million and lastly Rs.10 million.

The electricity supply company said the quarterly instalments are arrived at after including late payment surcharge and interest at the prevailing bank rates.

FESCO has obtained post-dated cheques towards instalment amounts, and the power supply to the textile manufacturing unit would be liable for disconnection if the company defaults in paying any instalment.

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India’s khadi exports touch Rs. 770mn in Apr-Jan

India’s Khadi and village industries (KVI) items exports reached Rs. 770 million during the initial nine months of the last fiscal, an official release stated.

Exports of KVI items from India stood at Rs. 828.2 million in 2009-10, while that for 2010-11 stood at Rs. 1.168 billion.

Embroidery items, silk and muslin khadi textiles and readymade garments were among the main KVI products that were exported during the last three years.

The Government of India has been trying to boost exports of KVI products, and has conferred the Khadi and Village Industries Council (KVIC) with the deemed ‘Export Promotion Council’ status, following which the council has already enlisted over 900 exporters by now.

Also, the Government has made a provision for incentive, which is in the form of five percent free on board (FOB) value of direct export of KVI items.

The XII Five-Year Plan proposal envisages technological upgradation, high value addition and patenting of KVI items, also aimed at enhancing exports.

Fore more details please visit : India’s khadi exports touch Rs. 770mn in Apr-Jan @ fibre2fashion

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