New Delhi: YSRCP MP Vijayasai Reddy sought the intervention of the Centre to bail out the crisis-ridden spinning mills in Andhra Pradesh. Directly and indirectly these spinning mills are source of employment for scores of people.
He said the price of cotton supplied to spinning mills had shot up sharply as the Cotton Corporation of India was hiding much of the available stocks. This was further leading to losses in the textile industries, he added.
The situation had come to such a pass that in order to mitigate the losses due to the production, production holidays were being declared. Therefore, he said it was time for the Centre to intervene and save the sector from further plunging into crisis.