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| BBIA appeals Governor to save SSI units | | | Early Times Report
Jammu, May 24: Bari Brahmana Industries Association (BBIA) has appealed Governor administration to save Small Scale Industries Units.
According to press release, a meeting was held under the chairmanship of Lalit Mahajan, President BBIA in the presence of Ajay Langer, General Secretary, Vivek Singhal Secretary, Viraaj Malhotra Treasurer BBIA to discuss the acute financial crisis being faced by the local SSI units due to non release of payments of Rs.200 Crores by PDD for the supply of materials under the Saubhagya and Additional Infra. scheme by the SSI units directly to PDD and through J&K SICOP resulting huge financial losses due to accumulated bank Interest on the money borrowed from the banks.
They further added that it has been resulting in serious financial crunch as the unit holders are not in a position to pay the Wages/Power Bills/GST Payments/Bank Interest & other Govt.
Dues and we fear that the accounts of the unit holders may be converted into NPA by the banks resulting unit holders have no option but to close down their units in near future.
It is pertinent to mention here that in spite of repeated requests and reminders to the Principal Secretary Power Development Department since last over one and half months, nothing has been done for the release of payment by the Department which shows the casual approach of the Department for the release payments of timely supply of goods by the SSI Units. |
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