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COIMBATORE, Aug. 8

THE Inter-Ministerial Steering Committee (IMSC) for the Technology Upgradation Fund Scheme (TUFS) has allowed coverage of second-hand imported circular knitting machine under the TUFS funding.

IMSC, at its latest meeting held on July 5, fixed the vintage for such second-hand knitting machines at five years with a minimum residual life of 10 years to become eligible for TUFS funding.

IMSC has also relaxed TUFS norms to include stand-alone effluent treatment plants (ETP) to be put up by textile manufacturers in the coverage.

This relaxation would benefit the individual/independent unit setting up the ETP either for captive use or for `substantive' use for a group of textile units willing to share in that area, according to a communication from the office of the Textile Commissioner, the designated monitoring authority for the TUFS operation.

As for the eligibility for the five per cent interest subsidy reimbursement to be extended to TUFS beneficiaries, the IMSC meeting resolved that whenever a new machine/equipment, which is equal or superior to the benchmarked machines/equipment included already in the list of approved items made eligible under the TUFS, the benefits for such equipment would be extended for the loans disbursed after April 1, 1999.

However, in case of any machinery/equipment included in the eligibility list due to relaxation of norms laid down under TUFS, the effective date of eligibility of interest reimbursement would be applicable only from the date of the IMSC's meeting that cleared such relaxation.

In the meantime, the Industrial Development Bank of India, the nodal agency for financing the TUFS projects for the non-SSI textile sector, has included the Tamilnadu Mercantile Bank Ltd and the Jammu and Kashmir Bank into its list of co-opted primary lending institutions for the TUFS programme. IFCI, the designated nodal agency for the TUFS programme for jute industry, has taken Canara Bank into its list of PLIs for the jute industry TUFS funding, the communication added.

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