October 27, 2006
October 27, 2006 - The Government has been asked to rescue the textile industry, Kenya National Chamber of Commerce and Industry (KNCCI) Chairman Charles Mose said this week.
The Uasin-Gishu branch of the KNCCI has asked the Government to rescue the textile industry.
Mose said the dairy and grain sub-sectors got more attention than textiles, whose collapsed industries were still under chain and lock.
"We have seen the government revive Kenya-Co-operative Creameries and Kenya Meat Commission, as well as fund the National Cereals and Produce Board to purchase grain. Why not revive the textile sector as well," asked Mose.
Rift Valley Textiles (Rivatex), he said, was one of the leading industries in Eldoret. It collapsed eight years ago with debts amounting to over Sh300 million. Receiver manager Raphael Masinde told reporters that interested investors do not bid competitively when the firm is advertised for sale.
Rupa (formerly Raymonds Woollen Mills), another troubled firm since revived, is grappling with inadequate supply of wool. Reprinted from BharatTextile.com, India