Jammu, Oct 19 (KNN) The city based micro, small and medium enterprises (MSMEs) met the newly appointed Chairman and CEO of J&K Bank, Parvez Ahmad, urging him to discuss various issues being faced by the sector due to losses caused by unrest in the valley for past few months.

A delegation of Bari Brahmana Industries Association (BBIA) met Ahmad and submitted a memorandum on behalf of the industrial sector of the region.

The MSMEs urged Ahmad to take up the matter with the State as well as Central Government for extending relief to the industrial sector of J&K to recover the losses caused due to disturbance in the state.

BBIA demanded waiver of Bank Interest on the Working Capital and Term Loans from July 1 till December 31, 2016 with the concessional rate of Interest w.e.f 01-01-2017 for next one year.

The MSMEs sought deferment of instalments of Term Loans which are payable up to 31-3-2017 with the rescheduling of instalments afterward.

The industrialists said exemption should be given to the industrial sector of J&K from the purview of NPA in respect of loans from the J&K Bank.

BBIA also demanded short term soft/ interest free loans to be provided by Bank to the Industrial Sector along with immediate enhancement of 25% in the Working Capital Limits of the units by the bank with same Collateral Security.

BBIA also asked J&K bank chief to reduce the high rate of interests and to provide relief to MSMEs for the cases under the consideration of SLIIC for Rehabilitation by State Governmentt.

Ahmad gave his patient hearing in respect of the issues raised by the BBIA and assured the delegation to resolve the issues on priority basis. (KNN Bureau)