BBIA appeals the Governor to save SSI Units from closure
Jammu, May 24 (KNN) Bari Brahmana Industries Association (BBIA) has appealed the State's Governor Satya Pal Malik to save Small Scale Industrial (SSI) units from closer as Power Development Department (PDD) failed to release their payments.
In a meeting under the Chairmanship of Lalit Mahajan they discussed 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.
Members said in the meeting that the 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 as working capital resulting serious financial crunch as the unit holders are not in a position to pay the wages/power bills/GST payments/bank interest & other government 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 one and a 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 of the state PDD by working day and night.
Now it is unjustified on the part of the department to withhold the payments of the materials supplied for the best known to the department in spite of the facts that the payment already received by the department from Govt. of India under the said scheme.
BBIA has appealed the Governor and K K Sharma, Advisor to the Governor to intervene into the matter and issue necessary orders for the immediate release of pending payments of unit holders on the basis supply made on first cum first basis without any further delay and save them from the closure.