CUTIX Promises More Jobs

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From Chuks Collins

The manufacturing sector has again raised alarm over the persistent poor or non patronage of locally manufactured quality products by the different tiers of government in the country, including the Federal Government.

The persistent complaint which has been in the front burner for some years now, again to the fore yesterday at Nnewi, during a per-Annual General Meeting(AGM) media briefing and tour of the factory of a key pioneer cables manufacturing firm, Cutix Plc by journalists and stakeholders in the sector. The stakeholders included banks, stockbrokers, professional bodies, chamber of Commerce/Industry representatives, business executives and the general public.

The company also unveiled its new N300million high calibre range of cables plant presently under construction. The plant was expected to be commissioned for full operations March 2014 and is expected to generation hundreds of new job openings and increased production of wide range of cables.

Chairman of the company, Chief David Ifezulike noted that despite commendable performance by Cutix Plc that they were still weighed down by the strong effects of the absence of government patronage and or lack of any such enabling law to compel government offices, parastatals, contractors and other big time consumers of cable products to patronize local industries.

He listed the Independent Power Plants(IPP) as one such area that has never benefitted local manufacturers, whereas the FG should come to compel the operators to patronize local industries instead of the present situation where they bring in cables being manufactured locally from other parts of the world at huge expense.

Another sore point, Ifezulike stated was the effects of cheap substandard imported foreign cables that were being smuggled and passed off as standard cable in the country. The renewed influx of these poor quality cable products, the Board chairman noted became rife again the moment the nation’s Standard Organization (SON) was asked to leave the various ports without alternative checks and balances.

He therefore urged the FG to consider the return of the SON to the nation’s ports.

The business executive also solicited that security chiefs in charge of the guarding of the various entry points to the nation from where these unwholesome products come in need to be severely sanctioned as a deterrent to others. Ifezulike believes that the kid glove with which such chief executives were treated contributes immensely in the persistence of the importation of the substandard and harmful products into the country.

The country has proposed a divided of 12 kobo per share and a bonus share of 2 new shares for every 3 shares held. The AGM comes up this morning at Nnewi.

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