Ludhiana, Dec 28 (KNN) The MSME units in Punjab’s industrial hub Ludhiana are struggling to retain their labour workforce after demonetization which had led to cash crunch.

With the deadline for depositing the old notes ending December 30, the industries are pushing their workforce into the banking system as quickly as possible so that their salaries can be transferred online.

But it has been found by KNN that campaign by the industries to open the banks accounts of their workforce is not a concrete solution as the associations have pointed that the workers are not willing to open accounts.

“Firms are trying but workers are not willing to open their accounts as they are not ready to stand in queues anymore as they don’t want to take leave from their duty.” said S. Nirmal Singh, Sr. Vice President, Small Scale Industries Association (SSIA), Ludhiana.

Meanwhile, Jasbir Singh, Chairman, Mohali Industries Association (MIA) claimed that opening accounts is not the only solution.

“Last month we opened the accounts of the workers but to withdraw the cash workers had to take leave, which results in slow production rate. So opening account is not the only solution to this problem,” said Jasbir.

As per the Associations unless the government increases the cash withdrawal limit the situation will remain difficult.

“If government can provide time of two or three months to allow the payments in cash, it will be very helpful for small sectors,” added Nirmal, President, SSIA.

The associations said that the workers are returning back to their home towns but there is hope in this industrial town that the migrant workers will return.

“We appealed the government to install ATMs near the industrial areas but nothing has happened yet,” said MIA.

“Banks have its own limit to give cash and industry has its own limit for withdrawal, we are not getting suitable cash” claimed SSIA, Ludhiana. (KNN/RAS)