Excelsior Correspondent
JAMMU, Apr 21: Bari Brahmana Industrial Association (BBIA) has demanded soft loans for the industrial units against the sanctioned incentives claims pending with the Ministry of DIPP, Govt of India.
A meeting of the Bari Brahmana Industries Association was held here today under the presidentship of Lalit Mahajan, in presence of Rahul Bansal senior vice president, Ajay Langer, general secretary and members of BBIA in which the issue regarding the non releasing Rs 70 crores against the sanctioned incentives claims of Industrial sector by Department of Industrial Policy & Promotion (DIPP) Govt of India pending since 2015 onwards, was discussed.
During the course of discussions, members present in the meeting raised their serious concern in respect of blockage of huge amount of Industrial Units in respect of sanctioned claims of capital investment subsidy, interest subsidy and insurance subsidy pending since 2015 onward. Due to non-release of funds the unit holders are facing serious problems as they are not able to clear the installments of term loans, blockage of working capital limit and piling up of huge amount of interest accumulated resulting numbers of accounts already converted into NPA’s and the unit holders have no option but to close down their units resulting retrenchment of the work force in near future which will increase the graph of unemployment in our State.
The members said that in spite of assurances given by the Ministry of DIPP for the release of funds in the month of April 2017, nothing has been done till date which shows the casual attitude of the Department towards the Industrial Sector of Jammu and Kashmir.
The BBIA members urged upon the Chief Minister Mehbooba Mufti, Finance Minister Dr Haseeb Drabu and Industries Minister Chander Parkash to kindly intervene into the matter and take up the issue with the Union Minister for Department of Industrial Policy & Promotion (DIPP) Govt of India for the release of funds against sanctioned claims for the disbursement to the Industrial units and in the mean time to provide instant relief to the Industrial sector by providing soft loan against sanctioned incentives claims of Industrial units till the release of funds by the Central Govt to save them from closure.
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