Public Textile Corporation is probably going to be closed somewhere near June 30, 2022. A letter named ‘Conclusion of NTC’ was sent by the Union material service to the Chairman and Managing Director Ashutosh Gupta.

The letter mentioned for subtleties, for example, consumption until June 30, 2022, existing and forthcoming installments and cost of Voluntary Retirement Scheme (VRS) to all workers. This has prompted the theory that as opposed to being sold, NTC will be closure. NTC has 23 plants and somewhere around 7,200 representatives.

Prior the public authority was quick to privatize NTC, yet presently they are discussing conclusion of NTC in the expectation of adapting land accessible with the Corporation, said a source. This will add to the current joblessness seething in the country.

Public Buildings Construction Corporation had overviewed the terrains accessible with NTC in 2021 and the valuation was supposedly submitted to the service. The NTC lands were reviewed in 2018-2019 as well and it was esteemed at more than Rs 1 lakh crore. The valuation is probably going to have expanded, said the source.

NTC had halted creation exercises on March 25, 2020, because of the cross country lockdown because of Covid-19 pandemic. It hasn’t begun working from that point forward. A couple of plants in Maharashtra opened for a couple of days, yet they additionally shut down creation in two or three months. In the wake of lifting of the lockdown, NTC reestablished activity of 14 plant units from January 2021 onwards, yet it was closed down again in April 2021.

The public authority said in March 2022 that creation action in 23 working plants of National Textile Corporation was suspended because of Covid-19 pandemic and cross country lockdown forced by the different state legislatures from March, 2020. From January, 2021 onwards, ordinary activities were continued in a portion of the NTC processes yet couldn’t be gone on because of inaccessibility of working capital and other monetary imperatives.

In a composed answer in March 2022 in RajyaSabha to CPI MP BinoyViswam, Minister of State for Textiles DarshanaJardosh expressed that considering proceeded with poor monetary practicality of NTC factories, Ministry of Textiles is setting up an activity plan for the way forward in this matter in discussion with NITI Aayog and Department of Public Enterprises under Ministry of Finance. The service asserted that the representatives were being paid wages and legal levy according to shared understanding among the board and addressing laborers of the plant.

In one more reaction in LokSabha in March 2022 to DMK MP S Gnanathiraviam, Jardosh had expressed that notwithstanding tremendous venture on modernisation, NTC factories keep on excess unviable. Nonetheless, a few representatives state in any case.