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16/04/2018 12:05pm

MSMEs in Ludhiana to observe April 17 as ‘black day’ to protest refund delays

image MSMEs in Ludhiana to observe April 17 as ‘black day’ to protest refund delays

Ludhiana, Apr 16 (KNN) In a bid to raise concerns of the sector, the Micro, Small and Medium Enterprises (MSMEs) of Punjab are to observe April 17 as ‘black day’.

The black day is being marked to protest against the state government’s failure in releasing the VAT refunds of businessmen in the state.

The decision to mark the day came up during a meeting held between the industry bodies under the aegis of Federation of Industrial and Commercial organizations (FICO) on Saturday.

Talking to KNN, Badish Jindal, President of Federation of Punjab Small Industries Association (FOPSIA) informed that the small scale industry is badly crippled and is yet to come to its feet.

In the times post demonetization, the woes started but the new tax regime was being seen as a relief but it worked otherwise.

“With the refunds under GST stuck for months now, the industry especially the MSMEs are choking and the overall business is low by over 20-25 per cent in last one year”, Jindal said.

Jindal further said that in such a scenario, the industry expected state government to play an essential role in handholding the MSMEs.

“The state government approach continues to be election centric and no attention is being paid to the small industries, there is nothing being done to reduce the stress on the sector”, he lamented.

Over 40 associations of trade and industry will be observing the black day along with a peaceful protest scheduled at the Vishvakarma chowk from 11 am to 1 PM on Tuesday. (KNN/DA)

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