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Apparel Export Promotion Council (AEPC) welcomed the government’s decision to extend the Emergency Credit Line Guarantee Scheme (ECLGS) for additional three months till June end.
“I sincerely thank RBI Governor Shri Shaktikanta Das for accepting our request to extend the emergency credit facility for an additional period as many apparel exporters are still facing financial issues due to the pandemic related slowdown,” Chairman Sakthivel said in a statement.
“The extension of the validity of ECLGS till June 30, 2021 will not only solve working capital issues but will enable many businesses in the labour intensive apparel industry to protect thousands of jobs,” he added.
The modifications made in the scheme to incentivise member lending institutions (MLIs) to provide additional funding facility to the eligible beneficiaries will help many to undertake servicing of big export orders, Sakthivel said.
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